The Daily Mail and General Trust (DMGT) is to acquire web firm Fastcrop, publishers of the Primelocation property site, for £48 million.Primelocation was established in 2001 by a group of 50 estate agents and focuses on middle and high-end residential properties in the UK and abroad.
The purchase is the latest in DMGT's drive to build a network of online advertising sites. DMGT also recently bought recruitment sites Jobsite, Top-Consultant.com,
Officerecruit.co.uk and property site Findaproperty.
"This acquisition continues our strategy of making investments in key areas of the online advertising market including property listings," said Andy Hart, managing director of DMGT division Associated New Ventures.
"Primelocation will sit well alongside our existing portfolio of online assets."
• The Trinity Mirror newspaper group recently announced the acquisition of administrative recruitment site SecsintheCity.com, and the Daily Mirror introduced a partnership with fish4jobs to provide a jobs channel on Mirror.co.uk.
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Finance reporter - property
