ZPG’s acquisition of software firm Expert Agent has been cleared by the Competition and Markets Authority.
ZPG, which also operates a number of other estate agency software brands after its acquisition of the Property Software Group for £75m last year, completed on the purchase of Expert Agent in March.
However, later that month the purchase was ‘called in’ by the CMA.
ZPG was told to ‘hold separate’ Expert Agent pending the outcome of the review.
Yesterday the transaction received the green light, and ZPG said it is now able to progress with its integration plans for the business, although it indicated at the time of its acquisition that it intends to continue to operate Expert Agent as a stand-alone brand and platform.
Mark Goddard, managing director of ZPG’s Property division, said: “We are delighted but not surprised by the outcome of this review by the CMA.
“We always felt that the UK property software sector is well served by numerous players who offer strong, effective competition, and are pleased that the CMA has come to the same conclusion.
“With this matter now concluded, we will be progressing our plans to integrate Expert Agent into the wider ZPG business and to deliver the related benefits for our partners.”
We were unable to reach Expert Agent founder Mike Griffiths for comment. He and his staff were on an away day to Weymouth and said to be enjoying ice creams and donkey rides.