REA Group Limited (ASX: REA) announced today that the Australian Competition and Consumer Commission (ACCC) has approved its $130 million acquisition of Hometrack Australia.
Hometrack Australia is a leading provider of property data services. Its products includes property data analytics and insights, customised data platforms and a highly regarded Automated Valuation Model (AVM).
The acquisition is expected to provide more property data insights to REA Group's customers and will likely strengthen the company's market position and dominance over Domain Holdings Australia Ltd (ASX: DHG).
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