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.