Sharechat Logo

PropertyIQ seeks clearance to buy Terralink

Wednesday 17th July 2013

Text too small?

PropertyIQ NZ, a joint venture between state-owned Quotable Value and Australia's RP Data, is seeking clearance to buy local geospatial data firm Terralink International.

The property information company has applied to the Commerce Commission for clearance to buy the business and assets of Terralink in an effort to boost scale and its ability to compete with global competitors, according to its application. Among the reasons cited for the acquisition is that it will open access to funding for national and international growth.

"PropertyIQ expects that the proposed acquisition will allow it to realise significant savings and increase efficiency (reducing both fixed and variable costs)," it said in its application.

"The effect of the acquisition will be that de-duplication of infrastructure and customer support together with resulting efficiencies will free up resources which can be deployed to develop further new innovative products and services to customers across all sectors and potentially for export, especially in location business intelligence and spatial information technology services," it said.

The antitrust regulator has to decide on whether a proposed merger will reduce competition in a market, and can only approve it if satisfied the transaction won't substantially lessen competition.

PropertyIQ reported a profit of $1.04 million in the six months ended Dec. 31, 2011, on sales of $5 million, according to part-owner RP Data's financial statements, lodged with the Companies Office.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar bounces off four-year low; seen weaker
Vector urges regulatory change in low-interest-rate environment
Vector urges regulatory change in low-interest-rate environment
Govt moves against surprise Supreme Court 'black hole' tax ruling
Qantas CFO Race Strauss to join A2 Milk as CFO
Climate Committee seeks data, evidence for future carbon budgets
Spark's wobbly world cup start raises stakes for live-streaming - analysts
An algorithm dunnit: anatomy of Spark's mid-match surrender
Stanley-Tallwood liquidator cuts deal over KiwiBuild development
Stanley-Tallwood liquidator cuts deal over KiwiBuild development

IRG See IRG research reports