WASHINGTON (dpa-AFX) - CoStar Group, Inc. (CSGP) has completed its acquisition of Domain Holdings Australia Limited, one of Australia's top property marketplaces.
The deal combines CoStar's global scale, technology leadership, and pro-agent approach with Domain's strong local brand and deep market expertise.
CEO Andy Florance said the merger aims to create a more balanced marketplace for agents, vendors, and buyers, challenging legacy models that prioritize extracting value over delivering it. He emphasized that CoStar will invest in better tools, content, and user experiences while reducing costs, replicating its success transforming Homes.com in the U.S.
Domain President Jason Pellegrino noted that the partnership will accelerate innovation and expand opportunities for customers while reinforcing Domain's trusted position in the market.
Both companies plan to enhance digital tools, customer solutions, and technology integration to set new standards of fairness, competition, and value in Australia's real estate industry.
CSGP currently trades at $88.57 or 0.89% lower on the NasdaqGS.
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