Monday 13th June 2011
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Listed financial services group IRG has today purchased ShareChat from Tarawera Publishing Ltd for an undisclosed sum.
IRG managing director Brent King said the transaction will help the company have a more cohesive online presence and rationalise its seven websites.
IRG has a media division which includes New Zealand Investor and Online Research as well as regular newsletters.
King said IRG has been recapitalised by the investment from GA Sego, completed on 11 April 2011. These funds have allowed IRG to plan positively for the future and this is the first acquisition within its strategic plan."
Tarawera Publishing Ltd managing director Philip Macalister says a strategic decision has been made to focus on the company's core publishing areas which cover the financial services industry, interest rates and property investment.
The company continues to be the biggest specialist publisher in the personal finance market with its three magazines (NZ Property Investor, ASSET and the NZ Mortgage Magazine) and its suite of websites including www.goodreturns.co.nz, www.landlords.co.nz and depositrates.co.nz.
TPL’s other sharemarket sites, sharetrader.co.nz and stockguru.co.nz are not part of the transaction.
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