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The merger of Zoopla and Digital Property Group has been officially announced, finally; the deal was struck last October and passed by the Office of Trading Standards in April.
The move is seen as an attempt to break the stranglehold Rightmove has on the online property portals, with Digital Property Group have been buying up smaller websites over the past few years.
Questions were initially asked of how the companies involved, namely Zoopla, FindaProperty and PrimeLocation, would operate after the long-awaited merger. They will reportedly continue for the foreseeable future but the employees will combine into a “single world-class team”, although they admit jobs may be lost as roles clash. It appears they will operate as one company when the “integration has been completed”.
The company will be headed up by Alex Chesterman, Founder & CEO of Zoopla, who will continue in the role of CEO and David Dutton, former Chairman of Digital Property Group, will become its Chairman.
Alex Chesterman, Founder & CEO of Zoopla, said, “This merger is a huge step towards our goal of becoming the UK’s most useful online resource for property consumers and most effective online marketing partner for property advertisers. We still have much work to do over the coming months, but the result of integrating these businesses will be a significantly enhanced experience for our users and significantly enhanced value for our advertisers.”
David Dutton, Chairman of Digital Property Group, said, “This is an exciting day. Our combined businesses have the scale and the resources to transform the online property sector for the benefit of consumers and advertisers alike. We are committed to providing the most innovative products and the most cost-effective advertising propositions, which will give our users and members a genuine powerful alternative in our marketplace.”
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