ACCC approve the REA Group Limited (ASX:REA) $130 million acquisition of Hometrack

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).

Whilst REA Group is a high quality business that I’d be happy to own, it is already established as an ASX blue chip company. Investors looking to get in early and identify companies that have the potential to become the next REA Group should read this report on ASX revolutionary companies written by our team of experts.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can follow Kevin on Twitter @KevinGandiya.

The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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