Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

American Fund Silver Lake Offers £2B for UK’s Zoopla

Will Property Portal Zoopla go American?

Property digital marketplace Zoopla— which dominates the British market with over 50 million visits on its site and app, and 25,000 partners— declared that American investment fund Silver Lake has made an acquisition offer of about £2.2 billion ($3 billion.)

That offer would value the company twice what it was worth when it was listed on the London Stock Exchange in 2014, when its total valuation was around $1.5 billion.

The deal will now have to be formally accepted by Zoopla’s shareholders; as of today, company directors (including founder and CEO Alex Chesterman) and some major shareholders (including the Daily Mail Group, which controls 30 percent of the company) seem to be in favour of the acquisition— which might therefore go through in the third quarter of 2018.

Talks between Silver Lake and Zoopla have reportedly been ongoing since April.

“Silver Lake is the global leader in technology investing and I am firmly of the belief that ZPG will benefit from their technology expertise and global network which will help accelerate our growth,” Chesterman said in a statement.

“The terms of the Acquisition represent an attractive premium that recognises the quality of [Zoopla’s] businesses and the strength of its future prospects and allows shareholders to realise today in cash the potential future value of their holdings. I am very excited about the opportunity this offers to our employees, customers and partners as we move to the next stage of [Zoopla’s] development and growth.”

Silver Lake’s MD Simon Patterson also commented on the development. “[Zoopla] is a great growth technology company,” he said. “It has established strong positions in property classifieds, home and financial services markets by innovating in product and marketing. We are delighted to partner with Alex Chesterman, one of Europe’s leading and most accomplished technology entrepreneurs, to invest in [Zoopla’s] continued growth.”

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