PropertyIQ granted clearance to acquire Terralink

The Commerce Commission has cleared PropertyIQ New Zealand Limited to acquire the business and assets of Terralink International Ltd.

The proposed acquisition impacts on the supply of property information products to corporate customers, property professionals, consumers and SMEs. The Commission is satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

“The Commission considered that PropertyIQ will continue to face competition from existing and emerging competitors in these markets. Furthermore, we consider that new competitors entering these markets are able to access the key datasets through negotiations with local Councils and other sources and will also constrain the merged entity,” said Commerce Commission Chairman Dr Mark Berry.

A public version of the written reasons for the decision will be available soon on the Commission‘s Clearances Register.

Background

PropertyIQ is a New Zealand based company which provides property information and services. PropertyIQ offers a range of products including property reports to consumers and real estate professionals, customised data and analytical services to corporate customers, and the wholesaling of data sets.

Terralink Limited is a New Zealand company specialising in the provision of geospatial data and services. Terralink also provides a range of property information data sets, reports and services