Fairfax Buys to Strengthen Property Data Offer

Australian publisher Fairfax Media has acquired property data and mapping provider, Property Data Solutions for around $AUD 30m in cash - and will combine it with its existing property data business, Australian Property Monitors (APM).

PDS' PriceFinder service supplies property data research to real estate agents and other subscribers including developers, investors and other corporations. The new combined service will be called APM PriceFinder, will sit within Fairfax's real estate-focused Domain business unit, and will be run by Tom White, currently CEO and MD of PDS.

Fairfax says the two merging services are also a good geographical fit. PDS is strong in Queensland and Western Australia, while APM's subscriber base is primarily in New South Wales and Victoria.

Domain CEO Antony Catalano says the buy is strategically important for Domain and adds: 'Tom White has substantial knowledge of the real estate industry and is a great addition to our management team.' White himself comments: 'We have always believed that the future of PDS lies in a broader real estate group like Domain where we can grow at an accelerated rate and reach PDS's full potential.'

Web site: www.fairfaxmedia.com.au .