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Onthehouse to be acquired

Onthehouse to be acquired

David Ryan, DLA Piper

A consortium has proposed to acquire the remaining shares of Onthehouse, with advice from multiple firms.

Firms: DLA Piper (77 Victoria Street Trust and Sandrift PTE Ltd); Corrs Chambers Westgarth (PIQ1 Pty Ltd and Macquarie Corporate Holdings Pty Limited); Gilbert + Tobin (Onthehouse Holdings Limited)

Deal: A consortium has proposed to acquire the remaining shares in Onthehouse Holdings Limited.

Value: Over $70 million

Area: M&A

Key players: The DLA Piper team was led by corporate partner David Ryan (pictured), with senior associate Tim Perry.

Deal significance: A consortium has proposed to acquire all of the remaining shares in Onthehouse Holdings Limited (ASX: OTH) via a scheme of arrangement announced on 6 July.

The consortium is comprised of 77 Victoria Street Trust, Sandrift PTE Ltd, PIQ1 Pty Ltd and Macquarie Corporate Holdings Pty Limited.

Onthehouse provides integrated platforms for office administration, property sales and management applications, online advertising solutions and other business performance tools for real estate agents, other property professionals and financial institutions.

The proposed transaction values the business at more than $70 million.

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