Australian-traded global online real estate publisher Mitula has been bought by Trovit owner Lifull for $187 million cash and stock.
Both groups are headquartered in Spain, but Mitula is traded on the Australian Securities Exchange and has former REA Group chief executive Simon Baker - an active investor in classified companies - as its non-executive chairman.
In its investment presentation, Lifull set 50 billion yen (A$611 million) as a 2020 revenue target for the combined company, AIM Group's Classified Intelligence has reported. It said the goal was "transforming the real estate industry, stimulating real estate markets, expanding real estate markets, (and developing a) global platform" for real estate.
Barcelona-based Mitula Group operates in more than 50 companies, with brands including Mitula, Nestoria (real estate), DotProperty in Asia, Nuroa and Fashiola (fashion).
Its cofounder, chief executive and executive director Gonzalo del Pozo (pictured) co-founded real estate portal Globaliza in 1998, selling it in 2009 before taking a similar role in Mitula Classified, and from 2015, Mitula Group. He is director and major shareholder of Inception Capital, an investment company specializing in internet companies, and a member of the investment committee for Onza Venture Capital.
Lifull acquired Trovit in November 2014, eight years after its launch.