From memory Mortgage Choice wasn't doing that well as a stand alone listed company (can't be bothered digging up the press on it sorry), and it's not like REA was buying a shinning star which would indicate it probably paid a decent price for more scale. The idea behind the purchase was scale and for a bigger pivot in fin services to leverage the audience they have, do they need another broker business to do that? Not so sure as they seem to be just organically adding more broker now to the system. However, you never know as next year conditions will be tougher and that might present M&A opportunities for REA in the space.
REA Price at posting:
$121.69 Sentiment: None Disclosure: Held
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