Lurgan-based firm GCD Technologies, a custom software development business, is to acquire Propertynews.com from print and digital publisher Mediahuis, the company announced today (Thursday).
The deal will see GCD take ownership of the popular house hunting portal and its property software products from November 1, as the company seeks to further grow the product side of its business.
Mediahuis, which publishes a range of print and digital titles across the island of Ireland, including the Belfast Telegraph, has decided to sell Propertynews.com as part of a plan to focus its resources on its core publishing business and other leading classified sites.
GCD is seen as the perfect buyer for Propertynews.com as it has been the site’s technology partner since 2004, responsible for the design and development of the current Propertynews.com portal, apps and estate agency management software products.
GCD has vast digital product development experience across many sectors, working with clients including PowerNI and Fane Valley.
GCD employs almost 40 people between offices in Lurgan and Dublin and the acquisition of Propertynews.com will see the fast-growing business further increase its headcount. In the past three years, GCD has grown its business by more than 40%.
Andrew Gough, Managing Director of GCD, said: “In addition to developing digital products for our clients, we also develop and operate a suite of products ourselves and the acquisition of Propertynews.com fits perfectly within our strategy to further grow this stream of our business.
“We have a long history with Propertynews and our team have a deep relationship with the platform, its technology and its customers, so we are delighted to be taking ownership of the site and its software products. We are really excited about the future of Propertynews.com and the innovation we can bring to the property market locally here in Northern Ireland.”
Marc Vangeel, CEO of Mediahuis Ireland said: “Mediahuis are proud to have owned the propertynews.com portal within our portfolio of news media and digital brands since 2019, but we believe that this offer from GCD Technologies will bring the resources and product development experience needed to continue to compete effectively into the future. We wish the new owners continued success.”
Propertynews.com was established in 2000 as Northern Ireland’s first property portal. It became part of Mediahuis when the company acquired Independent News & Media in 2019.