ANZ invests in View Media Group
ANZ today announced a strategic investment in Australian property media and technology company View Media Group (VMG).
As part of the agreement, ANZ will invest $50 million for a minority shareholding in the company and has committed to work with VMG to establish a proposed exclusive financial services partnership on key products.
VMG has a portfolio of businesses offering consumer and business property and media related solutions, including a residential listing portal, real-estate marketing agencies and property-technology businesses. These include realestateview, propic and beevo.
ANZ said this investment will help enable our existing strategy to establish a suite of services in the homeowner space that make it easier to buy, own or rent a property. This includes partnering with other service providers to that space like real estate agents and utility operators.
As part of the transaction, ANZ will gain a seat on VMG’s board.