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DMG Information Group Acquires QUEST Associates
02 July 2007, 11:01pm
DMG Information Ltd has reached agreement to acquire QUEST Associates. QUEST is the leading provider of software platforms for the exchange of valuation information between lenders and surveyors. QUEST is also a leading provider of software for the creation of Energy Performance Certificates and Home Information Packs.
The initial consideration will be £28 million, with additional payments of up to £8million dependent on the financial performance of QUEST over the next two years.
QUEST will become part of Landmark Information Group, the UK’s leading provider of land and property search information, including digital mapping, environmental and planning reports for property professionals and consultants. The acquisition will enhance the range of products and services offered by Landmark to the residential and commercial property markets.
Stephen Stout, Group Managing Director of Landmark comments: “The clients of both companies will benefit from an increased range of products and services using the very latest technology. QUEST is a proven market leader and we look forward to working with our existing as well as new clients to develop the services they need in the rapidly changing property sector.”
Tom Parker, CEO of QUEST comments: ‘We are very pleased to be joining Landmark Information Group. Quest is at a key stage in its development, and the resources of the enlarged group will ensure we continue to be the market leader in our existing business areas, and in the emerging EPC and HIPs marketplace.”
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