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Daily Mail and General Trust plc (‘DMGT’)
Acquisition of QUEST by DMG Information
DMGT announces that DMG Information, its
Business information division, has acquired QUEST, a market
leading provider of systems designed to manage the exchange
of valuation and survey information between lenders and surveyors
in the U.K. housing market. QUEST is also a leading provider
of software for the creation of Energy Performance Certificates.
QUEST, based in Bracknell, will become part
of the Landmark Information Group and further enhance the
range of products and services offered to the residential
and commercial property markets.
The initial consideration will be £28
million, payable in cash, with additional payments of up to
£8 million dependent on the financial performance of
Quest over the next two years.
In the most recent financial year to 31
March, 2007 QUEST’s operating profit was £4 million.
We expect the transaction to be earnings enhancing from the
date of acquisition.
Enquiries to:
Peter Williams Finance Director, DMGT
020 7938-6631
Paul Sykes Chief Financial Officer, DMGI 001 203 973-2940
Andrew Honnor Tulchan Communications 020 7353-4200
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