The merger between Zoopla Ltd and The Digital Property Group Ltd has completed.
The transaction, which was agreed last October, had been pending subject to clearance from the Office of Fair Trading (OFT) which was granted in April.
The newly enlarged company will be headed up by Alex Chesterman, Zoopla’s founder and CEO, who will continue in the role of CEO and David Dutton, former chairman of Digital Property Group, will become its chairman.
Integration of the businesses is now underway, although expected to take some months to finalise. In the meantime both companies will be operated separately until the integration has been completed.
Each of the existing brands of the combined business – Zoopla.co.uk, FindaProperty.com and Primelocation.com – will continue to operate for the foreseeable future.
As a result of the merger and the duplication of certain roles, a formal consultation process is now underway with the staff of both businesses.
“This merger is a huge step towards our goal of becoming the UK’s most useful online resource for property consumers and most effective online marketing partner for property advertisers,” said Chesterman.
“We still have much work to do over the coming months, but the result of integrating these businesses will be a significantly enhanced experience for our users and significantly enhanced value for our advertisers.”