Newspaper publisher Mediahuis is selling its house-hunting portal PropertyNews.com to GCD Technologies, a Northern Ireland-headquartered custom software developer for an undisclosed sum.
Under the deal, GCD will take ownership of the property portal from November 1st. The purchase comes as Northern Ireland-based company seeks to further grow the product side of its business.
GCD was already the technology partner for the website, a role it has fulfilled since 2004. The software developer had responsibility for the design and development of the current Propertynews. com portal, apps and estate agency management software products.
Products
"In addition to developing digital products for our clients, we also develop and operate a suite of products ourselves and the acquisition of Propertynews.com fits perfectly within our strategy to further grow this stream of our business," said Andrew Gough, managing director of GCD.
"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. We are really excited about the future of Propertynews.com and the innovation we can bring to the property market locally here in Northern Ireland. "
The acqusisition will see GCD, which employs almost 40 people at its Lurgan and Dublin offices, grow further.
Range
Mediahuis, which owns the Irish Independent, Belfast Telegraph and a range of local newspapers, is focusing on its core publishing business and other leading classified sites. It will also continue to develop its NIjobfinder recruitment portal.
"Mediahuis are proud to have owned the propertynews.com portal within our portfolio of news media and digital brands since 2019, but 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," said Marc Vangeel, CEO of Mediahuis Ireland.
