May 9, 07:00 PM

CoStar to Acquire Domain for A$4.43 Per Share in A$2.8 Billion Deal, Pending Shareholder Approval

CoStar Group has entered into a binding agreement to acquire Australian real estate platform Domain Holdings for A$4.43 per share, valuing Domain at approximately A$3 billion (US$1.92 billion). The deal, also reported as a A$2.8 billion transaction, was confirmed by both companies and reported by the Australian Financial Review. The acquisition follows CoStar's earlier purchase of a 17 percent stake in Domain and is structured under a Scheme Implementation Deed. The deal remains subject to approval from Domain shareholders and Australian regulatory authorities. CoStar aims to expand its presence in the Asia-Pacific real estate technology sector through this acquisition, which positions the company to compete with established players such as REA Group.