iBuyNew buys Melbourne research advisor Nyko Property

There’s good news for iBuyNew this week as Disruptive Investment Group Limited (DVI) acquires Melbourne-based property research advisor Nyko Property for $875,000.

The acquisition of Nyko will help iBuyNew broaden its capabilities including further sales leadership, whilst substantially increase product offerings and its strategic positioning with the ability to offer a larger range of compelling products to a larger variety of sales channels.

This is the second proptech acquisition for iBuyNew's owner, ASX-listed $9 million technology company Disruptive Investment Group.

Nyko Property provides industry advice on "off market" residential property investment opportunities in metropolitan Melbourne including fair market assessment, rental return estimations and detailed research reports on new investments.

With access and relationships to many leading mortgage aggregation and franchise groups, this will help grow the iBuyNew business, which is also expanding into house and land sales.

"iBuyNew's target is to lead the longer-term vision of new property sales online through its technology platform to B2B and B2C channels," Disruptive Investment Group said.

"iBuyNew is currently disrupting a huge industry via its B2C channels. With the right technology, the Nyko acquisition aims to propel iBuyNew's B2B distribution at an unprecedented growth rate.”

iBuyNew's chief executive said the acquisition of Nyko "fundamentally transforms iBuyNew to provide a complete property investment solution."

The total transaction value of the two entities will be $113 million in 2016, a 33 per cent growth from the value of iBuyNew on its own.

Nyko founder Bill Nikolouzakis will remain with Nyko as a director.

iBuyNew CEO Mark Mendel also stated, “The acquisition fundamentally transforms iBuyNew’s third party sales channel division to provide a complete property investment solution for its Corporate Partners and positions our B2B offering with wider breadth through established partners, well-developed systems and processes.”

View the full article here, which is published in the Real Estate section of The Australian Financial Review: Online group iBuyNew buys property research firm Nyko.
Published on 15th of October 2016 by Marty Stanowich
Marty Stanowich
Marty Stanowich

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