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RP Data has increased its stake in New Zealand’s PropertyIQ after Quotable Value (QV) agreed to sell part of its shareholding to the property data and analytics provider.
The transaction reduces QV’s shareholding from 50 to 40 per cent and lifts RP Data’s stake in the company from 50 to 60 per cent.
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Graham Mirabito, CEO of RP Data, said the company was delighted to be increasing its presence in New Zealand.
"It has been an increasingly important market for RP Data and for the CoreLogic group given the local innovation at Property IQ as well as our mutual customers in the real estate and finance sectors," he said. "Importantly, we have enjoyed over a decade of strategic partnership with QV, which we look to expand upon with our increased investment."
RP Data is a wholly-owned subsidiary of CoreLogic.
Chairman of PropertyIQ Bill Osborne said "we see significant benefit in strengthening PropertyIQ’s ties with RP Data, given their scale and international capability".
The change in shareholding will occur on 1 September 2013.
