U.K.-based proptech company IamProperty has acquired data and marketing provider Information Works for an undisclosed sum.
The deal was a 100% shareholder acquisition. It will help IamProperty to improve the marketing service it offers its agent customers.
Information Works, founded in 2008, provides a targeted data, prospecting and digital marketing service that combines creative mailing services that uses highly targeted consumer data and fully editable on-demand print products. The company specialises in property and has both sales and lettings agents as clients.
Information Works MD, Nigel Ross, will leave the business after 13 years, following a handover period. Other senior executives and staff will join IamProperty.
“This acquisition marks the next phase of growth and innovation for Information Works, building on our established success. Iamproperty is the perfect partner to take this forward,” said Ross.
It means IamProperty will add data and prospecting options to the services it can offer its clients, allowing estate agents to manage their appointments in one place.
“Information Works aligns with our portfolio and this acquisition is a key step as part of delivering on our ecosystem vision, creating strong opportunities for innovation and development for both businesses,” said IamProperty co-founders Ben Ridgway and Jamie Cooke.
IamProperty operates the Modern Method of Auction (MMA) service. According to its data, in 2023 estate agents sold a record number of properties in the U.K. via this method, 9847, representing 1% of all U.K. residential property transactions and a 35% increase on 2022.
In December, IamProperty appointed former EBay U.K. MD and MoneySupermarket chief executive Mark Lewis as group chairman and last month the company announced that it grew significantly during 2023 as revenue increased by 39% to £76.5 Million ($97.3 million) and EBITDA profit went up by 62% to £11.5 million.