LONDON (Alliance News) - UK conveyancing and financial intermediary platform provider ULS Technology PLC on Tuesday said it has acquired at stake in the HomeOwner Alliance Ltd property website in cash and shares.
ULS has acquired a 35% stake in HomeOwners Alliance for GBP575,000 in total, GBP520,000 of which will be paid in cash, with the remaining GBP55,000 to be covered by the issue of 100,182 shares at 54.9p pence. ULS shares were down 0.9% to 55.00p on Tuesday.
ULS said the investment will boost its position in the business-to-consumer property sector and should drive increased transactions through its technology platforms.
"Our conveyancing and estate agency comparison products which offer choice and value to the customer fit perfectly with HOA. In partnership with HOA we expect to provide expertise and funding to help them continue to grow while providing a direct-to-consumer platform for our products that fits both companies' corporate values," said ULS Chief Executive Ben Thompson.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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