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IPGA to acquire controlling stake in property portal RealAcres.com

Australian firm IPGA, has entered into an agreement to acquire controlling stake in Horizon Infoventures, which owns Mumbai-based real estate portal RealAcres.com, through its wholly owned subsidiary iProperty Group Asia.

Under the deal, IPGA will initially buy 60 per cent of Horizon’s shares in the business, with an option to acquire the balance of 40 per cent based on future earnings.

Australian firm IPGA, has entered into an agreement to acquire controlling stake in Horizon Infoventures, which owns Mumbai-based real estate portal RealAcres.com, through its wholly owned subsidiary iProperty Group Asia.

Under the deal, IPGA will initially buy 60 per cent of Horizon’s shares in the business, with an option to acquire the balance of 40 per cent based on future earnings.

RealAcres.com claims to have over 2.11 lakh property listings on its websites and about one lakh unique visitors each month. The company focuses on the western Indian market, though maintains property portals for major cities across the country. [Source: RTT News]

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