RealTime IT News

Aussie Online Shareholders Approve New Acquisition

Aussie Online shareholders have approved the acquisition of Internet real estate and rental operator, Commerce Australia, and raised AUS$5 million (US$3 million) through a share placement with European investment group Investa AG.

The company said the deal is part of its plan to develop a suite of complementary, vertically integrated portals alongside its existing aussie.com.au business directory site, creating opportunities for new revenue streams and e-commerce offerings.

The Commerce Australia site is integrating two additional portals - Rentfind and Rentshare - into the Realty Online site, all of which will be incorporated into the industry specific Aussie Online portal.