DMGT buys 50% stake in Globrix

Daily Mail & General Trust has acquired 50% of Globrix, a free-to-list property search engine.

DMGT’s consumer media division, Associated Northcliffe Digital, has acquired the stake, with the intention of extending the platform into other classified vertical markets.

Globrix joins AND’s Digital Property Group network, increasing its reach and value to estate agents and developers.

Richard Titus, chief executive of AND, said: “I am delighted by our investment in Globrix, which is completely in line with AND’s growth and investment strategy.

“I see this as a two-for-one acquisition since it enables us to both strengthen TDPG and address an entirely new multinational software opportunity at the same time.”

Last November, News International sold back its 50% stake in Globrix to its founders.