DNVN - PropertyGuru - a large real estate technology platform in Southeast Asia, the parent group that owns Batdongsan.com.vn, has been acquired by new owner EQT with a valuation of 1.1 billion USD.
On December 13, EQT Private Capital Asia and PropertyGuru Group Limited (NYSE: PGRU) announced the completion of the acquisition of PropertyGuru by BPEA Private Equity Fund VIII Limited, at a price of US$6.70 per share, valuing PropertyGuru at approximately US$1.1 billion.
In conjunction with the completion of the transaction, PropertyGuru’s common shares ceased trading prior to market open on 13 December 2024 and the company delisted from the New York Stock Exchange. PropertyGuru will operate as a private company.
Founded in 2007 and headquartered in Singapore, PropertyGuru is a real estate technology platform that connects over 31 million property seekers with over 50,000 active agents across Singapore, Malaysia, Thailand and Vietnam every month.
EQT has acquired the PropertyGuru platform
EQT’s investment in PropertyGuru aims to support the group’s growth by providing resources and expertise to accelerate technology development, expand markets and improve operational efficiency. Leveraging the experience of leading real estate listing and digital platform players Idealista and Casa.it, EQT will accelerate PropertyGuru’s strategic activities, strengthen its position in Southeast Asia’s real estate technology sector and drive growth in dynamic markets.
“Over the past 17 years, our growth has been fueled by strong partnerships with our shareholders, led by TPG and KKR,” said Hari V. Krishnan, CEO of PropertyGuru Group. “EQT shares our commitment to sustainable development and we look forward to working with them to help communities live, work, grow and thrive in the cities of the future.”
Ms. Janice Leow, member of the advisory team of EQT Private Capital Asia and Director of EQT Private Capital Southeast Asia, shared: "With EQT's expertise in technology businesses, especially in the field of digital advertising and real estate listing platforms, we are joining PropertyGuru to open up new opportunities, enhance services and promote the next phase of growth."
Minh Thu
Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/eqt-chi-1-1-ty-usd-thau-tom-tap-doan-me-cua-batdongsan-com-vn/20241214023807743
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