Idealista Acquires U.K.-Based Kyero to Boost International Reach
Deal News | Dec 05, 2024 | Aim Group
Idealista, a leading real estate marketplace based in Spain, has agreed to acquire the U.K.-based property portal Kyero. The acquisition supports Idealista's growth strategy and its commitment to technological advancement in the international market, specifically targeting international real estate buyers looking for properties in Southern Europe. Although the financial terms of the acquisition have not been disclosed, the completion awaits regulatory approvals. This acquisition marks Idealista's 17th acquisition in 16 years, underscoring its inorganic growth strategy. Idealista, which recently had a significant equity investment by private equity firm Cinven, aims to enhance user experience and expand into new markets by integrating Kyero's established international reach with its technological capabilities. Kyero, founded in 2003 by Louise and Martin Dell, operates independently and will continue its partnerships within its active markets.
Sectors
- Real Estate
- Technology
- Private Equity
Geography
- Spain – Idealista is a Spain-based company, and the article focuses on its operations and strategy.
- United Kingdom – Kyero is based in the U.K., which is central to the acquisition discussed in the article.
- Southern Europe – The acquisition is expected to further Idealista's influence in the Southern European property markets.
Industry
- Real Estate – This industry classification is relevant as the article discusses Idealista and Kyero, both of which operate within the real estate sector.
- Technology – Idealista aims to enhance its technological capabilities through this acquisition, making this industry relevant to the context of advancing digital real estate platforms.
- Private Equity – The involvement of Cinven, a private equity firm that recently invested in Idealista, makes private equity a pertinent classification.
Financials
- 2.9 billion – Valuation of Idealista when Cinven acquired a 70% stake.
- 259 million – Idealista Global's revenue in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Idealista | Acquiring Company | Company | Spain-based leading real estate marketplace. |
| Kyero | Target Company | Company | U.K.-based property portal focusing on international buyers for Southern European homes. |
| Cinven | Private Equity Investor | Company | Private equity firm holding a significant stake in Idealista. |
| Louise and Martin Dell | Founders of Kyero | People | Founders of Kyero who will continue to have a role following the acquisition. |
| Jess Encinar | CEO of Idealista | People | Founder and CEO of Idealista overseeing the acquisition. |