Bourse Data Takes Stake in Australian Mortgage Market
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Bourse will acquire 10 percent of Mortgage Choice in return for shares in Bourse to a value of AUS$10 million (US$6.3 million).
"The deal enhances Bourse Data's ongoing commitment to expand and develop its online offering," said Bourse chairman Gil Hoskins. Bourse is intending to offer online financial advice and home loan services through the partnership.
The broker is already planning to finance further growth by raising AUS$10 million (US$6.3 million) through the private placement of shares.
The company currently has a home loan revenue of more than AUS$4 billion (US$2.52 billion) and has over 250 franchises in Australia, New Zealand and the United Kingdom.