LSL Property Services PLC - Newcastle-upon-Tyne, England-based estate agency - Announces acquisition of 60% stake in Direct Life Quote Holdings Ltd for GBP1.8 million, and Mortgage Gym Ltd business and assets for GBP2.4 million. Says the Direct Life Quote investment will help LSL's directly employed advisers and its PRIMIS intermediary network members to increase their sale of protection products for the benefit of clients and customers. LSL says it can take a further share in the business at a later date under the agreement. Adds the Mortgage Gym investment will strengthen the technology support available to LSL and PRIMIS mortgage advisors.
"These important acquisitions will help LSL drive further growth in Financial Services, which is at the heart of our strategy. They provide us with market-leading digital capability, and I am delighted that we have been able to complete these deals," says Group Chief Executive David Stewart.
In addition, LSL says it has appointed Steve Goodall as managing director of e.surv, a UK provider of surveying and valuation services, and Andy Deeks as group chief strategy officer. Goodall was chief executive of ULS Technology PLC, a provider of digital home moving and legal services platforms, and Deeks was an executive director at Coventry Building Society.
Current stock price: 236.00 pence
Year-to-date change: down 19%
By Zoe Wickens; zoewickens@alliancenews.com
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