Independent News & Media is to acquire internet property site PropertyNews.com, which covers Northern Ireland and neighbouring counties in the Republic.
The PropertyNews.com database lists nearly 20,000 properties for sale, 4,000 of them in the Republic. 99% of estate agents in Northern Ireland list their properties on the site.
INM has also acquired the PropertyNews monthly newspaper, also founded by Graham and Lorna Brown in 1983. Estate agents distribute this newswpaper through a network of over 200 offices. The internet site was launched in 1998.
Mr Brown and Conor MacCarrick, chief executive of PropertyNews.com, will continue to head the group.
INM chief executive Dr Tony O'Reilly said the deal would allow the group to offer estate agents and home-owners 'an unrivalled package'.
Shares in the company were up two cent at €2.57 in Dublin this evening.
