Domain acquires data business IDS for $60m

Domain Holdings Australia has agreed to acquire Insight Data Solutions (IDS), in a deal worth $60 million, payable in cash.

The Nine Entertainment Co majority-owned Domain will acquire 100% of the securities in IDS Holdings Pty Limited, with completion of the deal expected in mid October.

The group, said that the deal marks another step forward in executing its marketplace strategy, as it is on a “journey to expand its addressable market beyond agents and consumers to financial institutions, and government”.

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