99 Group, which operates several Southeast Asian property platform brands, has acquired property platform and real estate data provider Singapore Real Estate Exchange (SRX), according to a statement.
Under a sale and purchase agreement finalised on November 7, 99 Group will acquire all the shares in Streetsine Singapore Pte Ltd, the operator of SRX.
Financial terms of the deal, which is expected to be completed by Q2, 2021, were not disclosed.
With this acquisition, SRX will join the group of property platform brands owned by 99 Group including Sequoia-backed 99.co and iproperty.com.sg.
The deal will help 99 Group create a wider pool of listings, information, and data tools for consumers and real estate professionals in Singapore.
Established in 2009, SRX is a digital platform that uses the AI algorithm X-Value to provide an instant, accurate estimate of a property’s value. SRX’s other data products included Analyzer and Home Report.
99 Group owns 99.co, one of the fastest-growing property platforms in Southeast Asia.
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