CoStar Group has offered to acquire Australia's Domain Holdings, a property classifieds firm, in a deal valuing it at A$2.65 billion, or approximately $1.70 billion. This unsolicited bid signals CoStar's intent to expand its digital real estate presence into the Australian market.
The proposed acquisition aims to capitalize on the Australian property market, with CoStar betting on potential boosts from falling interest rates. Domain Holdings is a leading property technology and services marketplace in Australia, with a portfolio of property brands.
This move follows CoStar's recent U.K. expansion and underscores its strategy to grow internationally. The offer is a significant step in CoStar's ambition to become a diversified global real estate technology leader.
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