2nd Jul 2007 09:59
2 July, 2007 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
Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594
DAILY MAIL & GENERAL TRUST PLCRelated Shares:
DMGT.L