Zoopla bets on Estate Agency industry with acquisition of software provider

ZPG Group, the holding company that owns Zoopla, has bought estate agency software specialist Expert Agent for an undisclosed fee, it announced to the market this morning.

Today's acquisition adds Expert Agent to ZPG's growing portfolio of property and service websites and bolsters its offering for property professionals specifically, following its recent acquisition of property data specialist Hometrack.

Expert Agent was established in 2003, and was the first UK provider to take estate and letting agency software online. Its Saas platform enables users to manage inventory, marketing and communications for 2,300 estate agents and lettings agents across the UK.

With today's acquisition, ZPG seems to be betting on the future of the wider UK estate agency industry, at a time when disruptor Purplebricks is grabbing headlines with its skyrocketing share price and US expansion plans.

ZPG said the acquisition of Expert Agent was part of its continuing mission to provide the most useful resources to and be the most effective partner for UK property professionals:

"Expert Agent has a strong track record and experienced management team with deep knowledge of UK property and software markets. Expert Agent will continue to operate as a standalone platform and brand and the team will become an integral part of the Property Services division of ZPG."

Mark Goddard MD of ZPG's Property Services said the move enhances the services the ZPG can offer, including CRM, digital marketing and data insight tools. He also reiterated his ZPG's ambition to be the most effective partner to the UK property industry.

Whilst Mike Griffiths Expert Agent Managing Director added that he believed the move was a "clear win" for UK agents:

"Whilst remaining an independent solution, we will now be able to take Expert Agent to the next level with the backing of ZPG by integrating its existing products and investing further in the platform to ensure our members benefit from an end-to-end marketing and software solution."

Shares in Zoopla rose 1.24% in early trading, having risen 65% in the past year.