DLA Piper advises Realbase on its acquisition by Domain Group for consideration of up to $230 million

Global law firm DLA Piper is pleased to have advised Realbase Pty Ltd, the largest real estate campaign management technology platform in Australia and New Zealand, on its sale to the Domain Group (ASX:DHG) for consideration of up to $230 million.

The purchase price is comprised of $180 million upfront cash consideration, with an earn out component of up to $50 million which may be payable for achievement of stretch financial performance targets for FY24 - FY26. The transaction is a highly strategic acquisition which provides complementary marketplace offerings and extends the value proposition Realbase and Domain can take to agents.

Frank Greeff, CEO Realbase, commented: “We are incredibly excited by the opportunity to partner with the Domain Group and to continue to scale and grow alongside a market leader in the real estate industry. The DLA Piper team was outstanding on this transaction – responsive, commercial and integral in helping us to achieve this exciting milestone. I would highly encourage anyone who is thinking of engaging the DLA Piper team to do so, as they were paramount to the success of the deal. It was a real pleasure to work with the DLA Piper team and we are grateful for their support as our trusted adviser.”

DLA Piper corporate partner Adrian Tan added: “It has been an absolute pleasure to advise Realbase on this transformative transaction, which is a clear demonstration of their unique offering to the real estate sector and market leading position in the provision of integrated campaign management solutions. We congratulate the Realbase team on this incredible milestone and look forward to their continued growth and success as part of the broader Domain Group”.

The DLA Piper team was led by Sydney-based corporate partner Adrian Tan, and assisted by solicitors Jake Thornton, Mariam Jaber, and Kayla Stathis, and senior associate Michael Orban. The team also had employment support from partner Nicholas Turner, senior associate Clancy King and solicitor Stephanie Lambros, and intellectual property and technology support from partner Nicholas Boyle, and senior associates Alex Horder and Kit Lloyd.

The transaction is expected to complete by the end of April 2022.