CIO

IPGA (ASX:IPP) buys Malaysian web business for $2.1m

Property website operator IPGA Limited (ASX:IPP) has acquired Malaysia's Think Media, operator of the thinkproperty.com.my brand, for $2.1 million.

The website has around 4,500 agents advertising some 80,000 properties for sale and rent, and received 178,000 unique visitors in May. It is IPGA's closest competitor in Malaysia, according to Google Analytics.

IPGA CEO Shaun Di Gregorio said the company considered Malaysia one of its core markets, alongside Singapore and Hong Kong.

He said IPGA would operate thinkproperty.com.my as a separate entity to existing iProperty.com.my, as both sites offer different user experiences and unique audiences.