The Squire Patton Boggs Global Corporate Practice has advised the shareholders in Hometrack, a property data company that provides automated property valuations, on its acquisition by the Zoopla Property Group Plc, in a £120 million deal.
Established in 1999, Hometrack is one of the UK’s leading automated valuation model (AVM) providers, generating over 20 million automated property valuations per annum. Hometrack provides residential property market insight, analytics, valuations and data services to over 400 partners, including mortgage lenders, new home developers, investors, housing associations and local authorities. Zoopla Property Group Plc, founded in 2007, launched the website Zoopla in 2008, which has since been one of the fastest growing websites in the UK, attracting over 40 million visits per month.
The Squire Patton Boggs team advising Hometrack was led by London Corporate partner Nick Allen and included Julian Ciecierski-Burns, Will Buchanan, Dhruv Chhatralia, Josh Fitzpatrick, Nadia Cole, Patrick Ford and Victoria Carpenter in the UK and Louise Boyce, William He and Clive Lee in Australia.
Charlie Bryant, CEO of Hometrack, said: “Working with Nick Allen and his team has been a pleasure; they have been truly outstanding in advising us during this process. My team and I are very much looking forward to helping develop Zoopla Property Group’s data services business, further growing the quality and breadth of the services to our partners, and cementing Zoopla as the market leader for residential property market insights and analytics.”
Nick Allen commented: “We were delighted to be able to advise the Hometrack shareholders on such a significant strategic step for the business!”