Mediahuis agrees deal to sell property website to Lurgan software firm
THE Belgian owner of the Belfast Telegraph and Sunday Life newspapers is to sell its online property website.
Mediahuis acquired Property News as part of its 2019 acquisition of Independent News and Media.
The online listing website, founded in 2000, is being sold to software developer GCD Technologies.
The Lurgan-based company, which also has an office in Dublin, has worked on the website since 2004. Its other clients include Power NI and Fane Valley.
The value of the deal has not been disclosed, but GCD will take ownership from November 1.
Mediahuis said the decision to sell is part of a plan to focus its resources on the publishing end of its business.
GCD's managing director, Andrew Gough, said: “In addition to developing digital products for our clients, we also develop and operate a suite of products ourselves and the acquisition of Propertynews fits perfectly within our strategy to further grow this stream of our business.
“We have a long history with Propertynews and our team have a deep relationship with the platform, its technology and its customers, so we are delighted to be taking ownership of the site and its software products.”
Marc Vangeel, chief executive of Mediahuis Ireland, added: “We believe that this offer from GCD Technologies will bring the resources and product development experience needed to continue to compete effectively into the future.”