SmartNewHomes.com, the UK’s leading new homes website, has been acquired by Trinity Mirror plc.
The UK's largest newspaper publisher purchased Smart Media Services Ltd for an initial sum of £11.3 million and a deferred consideration based on future earnings, capped to a maximum of £5.3 million.
Trinity Mirror operates a portfolio of over 500 media brands, including some 240 local and regional newspapers, five national newspapers and four sports titles, as well as more than 60 websites and a variety of magazines, directories and exhibitions. It is also a shareholder of Fish4, which includes Fish4Homes.co.uk.
Commenting on the deal, David Bexon, Managing Director of SmartNewHomes, said: “We're delighted that SmartNewHomes.com will be part of the largest newspaper publishing group in the UK.
"The combination of key regional newspapers and leading local websites, coupled with the possible future link-ups with national property websites, will allow a significant increase in the marketing reach of SmartNewHomes.com.
“We are already the UK’s leading new-build website and this deal provides the platform for further growth and the introduction of a number of services for existing and new clients.”
See Also: Press Releases (379)
Date Published: 28 July 2005
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