- Real estate tech business PropTech Group (PTG) has agreed to purchase real estate website and marketing company Website Blue
- PropTech will buy the company for $1.5 million in a share and cash deal
- Website Blue is a full-service professional web design and development agency that delivers marketing solutions to Australian and New Zealand real estate agencies
- Notably, in 2020, websites powered by Website Blue delivered 1.5 million vendor and landlord leases to real estate agencies
- On the market this afternoon, PropTech is up 5 per cent and is trading at 42 cents per share
PropTech Group (PTG) has entered into agreements to purchase real estate website and marketing company, Website Blue.
Website Blue is a full-service professional web design and development agency that delivers marketing solutions to Australian and New Zealand real estate agencies.
PropTech will buy the company for $1.5 million in a share and cash deal.
Website Blue owns and operates Designly, a technology platform that allows real estate agents to self-manage their digital marketing assets and campaigns.
Using Designly, real estate agents can create all the marketing assets. This includes e-marketing, signboards, property flyers, DL cards, social media stories, and window cards.
Notably, in 2020, websites powered by Website Blue delivered 1.5 million vendor and landlord leases to real estate agencies.
“We are excited to be part of the PropTech Group,” Website Blue Managing Director Luke Thomas said.
“This will allow us to increase our pace of innovation and deliver our quality real estate technologies to a broader range of real estate agencies in Australia, New Zealand and the U.K.,” he added.
PropTech CEO Joe Hanna is also pleased with the purchase.
“James, Luke and the team at Website Blue have long delivered industry leading websites and marketing tools for agencies and agents,” he told the market on Tuesday.
“Strategically, this acquisition will further strengthen the PropTech Group’s position in Australia and New Zealand and enhance our offer to estate agents in the U.K. market,” he added.
On the market this afternoon, PropTech is up 5 per cent and is trading at 42 cents per share at 2:20 pm AEDT.