Domain completed the acquisition of 100% stake in Bidtracker

Domain Holdings Australia has entered into a binding agreement to acquire 100% of Bidtracker Holdings which operates the business Real Time Agent. The on-target consideration for the proposed transaction is $24.8m, $19.4m of which is payable in cash on completion. An additional amount of between $0 and $15.6m in cash is payable based on the achievement of defined targets over FY20 and FY21, resulting in a maximum consideration of $35m on achievement of 200% of the business plan. “We’re thrilled to welcome Real Time Agent to the Domain Group. Real Time Agent’s products deliver huge benefits to both agents and consumers, and accelerate our existing strategy of delivering technology that streamlines the online and offline property process,” Jason Pellegrino, Domain Group Chief Executive Officer and Managing Director.