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EYE NEWSFLASH: Emoov and Tepilo reported to be in £100m merger talks

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Sky News is reporting that online agents Emoov and Tepilo are in talks about a merger that would result in a publicly quoted firm, set to challenge Purplebricks.

Sky New said that the two companies are at an advanced stage of negotiations, with an agreement likely within days.

The deal would involve the acquisition of an un-named third-party estate agent as well as a deal with Channel 4′s Commercial Growth Fund, which gives free air time for adverts in exchange for an equity stake.

Sky News says sources believe the combined business would be worth over £100m. It would seek a stock market listing this autumn, with Cenkos Securities lined up to take the company public.

Emoov is headed by Russell Quirk, while Tepilo was set up by C4 TV presenter Sarah Beeny.

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Source:: EYE NEWSFLASH: Emoov and Tepilo reported to be in £100m merger talks