- CoStar Group (CSGP, Financial) has entered an agreement to acquire Domain Holdings Australia Limited for A$2.3 billion.
- The acquisition values Domain at an implied enterprise value of A$3.0 billion.
- The Scheme requires approval from Domain shareholders, with a meeting expected in August 2025.
CoStar Group, Inc. (CSGP), a leader in real estate marketplaces and analytics, announced a binding agreement to acquire Domain Holdings Australia Limited, a premier property marketplace, under a Scheme Implementation Deed (SID). This purchase, which is expected to cost approximately A$2.3 billion (US$1.5 billion), values Domain at an implied enterprise value of A$3.0 billion.
CoStar Group had previously acquired a 17% stake in Domain in February 2025 at A$4.20 per share, totaling about A$452 million (US$285 million). Under the new terms, CoStar Group will pay Domain shareholders A$4.43 per share, adjusted for any dividends starting May 9, 2025.
This acquisition is contingent upon approval from Domain shareholders and several other conditions, including Australian court consent, a nod from the Foreign Investment Review Board, and a favorable conclusion from an Independent Expert on the acquisition’s benefits for Domain shareholders. Nine Entertainment Co. Holdings Limited, the controlling shareholder of Domain, holding 60.1% of Domain shares, has indicated their support, subject to similar conditions.
Speaking about the acquisition, Andy Florance, CEO of CoStar Group, highlighted the strategic fit and the potential to enhance the Australian property market by leveraging Domain's expertise alongside CoStar's technology and industry knowledge. The transaction is anticipated to close in the third quarter of 2025, following a shareholder meeting in August 2025.
