A North East property technology group has acquired part of a Midlands firm to continue its growth in the online property market.
Newcastle-headquartered iamproperty has acquired SDL Auctions’ portfolio of estate agency partners that use the Modern Method of Auction (MMoA) service in an undisclosed transaction. The deal for the Nottinghamshire firm is part of iamproperty’s strategy to grow its online auction service.
The deal means that more than 1,000 estate agency branches will join iamproperty, giving it a partner network of more than 4,500 branches across the UK. The company is best known for its iamsold online property auction site, which recently achieved annual sales of more than £1bn worth of property.
