~to become a world class search engine by consolidating technology and knowledge with current subsidiary Trovit~
TOKYO, May 9, 2018 /PRNewswire/ -- On May 9, 2018, the Board of Directors of LIFULL Co., Ltd. ("LIFULL") ("the Company"), who own and operate Japan's No.1 real estate information service and who own vertical search specialist Trovit, approved the plan to move forward with the 100% acquisition of Mitula Group ("Mitula").
Mitula is a leading digital classifieds group operating 110 classifieds vertical search sites covering real estate, cars, jobs, and fashion in 54 different countries and 21 different languages. In addition, it operates 10 property portals in the SE Asian markets.
LIFULL has adopted a strategy to leverage its leading position in the Japanese market to expand globally into highly attractive homes, cars and jobs markets to facilitate multilingual cross border transaction.
In November 2014, the Company acquired Trovit Search S.L. ("Trovit"), one of the world's largest classifieds aggregator for real estate, cars, and jobs across 39 countries (at the time of acquisition), as means to accelerate the implementation of its strategy. Since acquisition, Trovit has continued its rapid growth and now provides services across 57 countries with over 1 billion visits annually.
Through the combination of both Trovit and Mitula's advanced technology, its large number of users around the world, and experienced management, LIFULL will expand its commitment to provide a superior search experience and a broader range of advertising services and opportunities to help people find their next home, cars or job.
Mr Gonzalo del Pozo, CEO of the Mitula Group, said: "Trovit and Mitula Group have both developed leading positions in the vertical search space for cars, jobs and homes and are a natural fit in terms of strategy, employee skills and capabilities, product set, customer base and global footprint. The merging of the two businesses will create a significant player in the global online classifieds industry."
Trovit's CEO, Mauricio Silber, said: "It makes a lot of sense to bring together the operations of Mitula and Trovit to provide our combined customer base with access to a superior range of advertising products and services across a network reaching over 170 million visits each month."
Summary Information on Mitula Group Limited
Name: Mitula Group Limited
Address: Enrique Granados, 6 Edificio B - 2º planta 28224 Pozuelo de Alarcón, Madrid (Spain) CEO: Gonzalo del Pozo / CEO、Board Director、Founder
Principal Business: operation of aggregator* websites and portal sites for real estate, job listing, used car, and fashion information
Capital: 33,826,233 AUD
Listing: Australian Securities Exchange (Code: MUA)
*Aggregator Website integrates information from multiple websites into one, allowing website users to access the compiled information at a single website.
About LIFULL Co., Ltd.
LIFULL Co., Ltd. is a company that operates real estate and housing information services. It was established in 1997 based on an aspiration to change the real estate industry. Its main service is the operation of LIFULL HOME'S, a website providing real estate and housing information, which provides the industry's most extensive library of property information in Japan. * Apart from its focus on Mainstay Housing, LIFULL has been expanding into related areas such as Nursing Care, Interior Design, and Insurance. The Group is also actively providing its services in 57 different countries around the world.
LIFULL Group's corporate message is "Make every LIFE FULL." LIFULL provides "LIFE solutions" that will offer comfort and happiness to people around the world.
For more information visit https://lifull.com/en/company
Address: 1-4-4 Kojimachi, Chiyoda-ku, Tokyo 102-0083, (Japan)
CEO: Takashi Inoue
Listing: First Section of the Tokyo Stock Exchange (Code: 2120)
*Based on the survey conducted by Sankei Medix (announced on January 30, 2018)
LIFULL Co., Ltd.
Communications Department – Public Relations press@LIFULL.com
SOURCE LIFULL Co., Ltd.