AND acquires 50% of Globrix

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Thursday 21 January 2010

A&N Media, the consumer media division of DMGT announces that Associated Northcliffe Digital (AND), its digital division, has acquired 50% of Globrix (www.globrix.com).

Globrix, the UK's largest free-to-list property search engine, has the largest stock of property for sale and rent on the market. As part of this transaction, AND will support the management of Globrix to extend its innovative technology platform into other classified vertical markets.

Globrix's UK property portal will join AND's Digital Property Group (TDPG) network, increasing its reach and value to estate agents and developers - for whom Globrix is an important part of their media mix. This move takes TDPG to a reach of 2.5 million monthly unique users (source Comscore November 2009), further underlining its position as the UK's second largest property network with the largest stock of property for sale or rent in the UK.

Globrix will remain free-to-list and TDPG will be investing in the growth of the brand. AND will also support the management of Globrix to expand its existing platform, to provide fully hosted portals to international media partners. The gross assets of the 50% stake in Globrix acquired are negligible.