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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Australia and New Zealand Banking Group Limited    ANZ   AU000000ANZ3

AUSTRALIA AND NEW ZEALAND BANKING GROUP

(ANZ)
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Australia and New Zealand Banking : ANZ acquires local startup REALas to help bolster digital offering in Australia's property market

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10/02/2017 | 06:20pm EST
News Release

For release: 3 October 2017

ANZ acquires local startup REALas to help bolster digital offering in Australia's property market

ANZ today announced it had acquired Australian property start-up REALas to help home buyers access better information about the Australian property market.

Launched in 2011, REALas offers a unique algorithm to predict property prices and has forged a strong reputation as the most accurate predictor of sale prices for listed properties.

Commenting on the acquisition, ANZ Managing Director Customer Experience and Digital Channels Peter Dalton said: "This is an important acquisition for our digital transformation as we know customers are increasingly turning to online resources for help as they navigate the Australian property market.

"It's also a great success story of an Australian start-up, so we're really pleased to be working with them and looking at how we might incorporate some of their features into ANZ's products and services in the future."

REALas CEO Josh Rowe said: "The algorithm at the centre of our site was built using the latest data science methods, local market knowledge from property experts and crowd- sourced data from buyers. Its predictions change in response to the market, which means buyers have access to the latest prediction right up to the time of sale.

"We're thrilled that ANZ has recognised the value in what we've built over the past six years and we're looking forward to growing our service and helping people get the information they need to make better decisions when buying or selling property."

REALas.com will continue to operate independently as a wholly-owned subsidiary of ANZ. A video interview with REALas CEO Josh Rowe is available at www.bluenotes.anz.com

For media enquiries contact: Francesca Rizzo, +61-481-014-224

Australia and New Zealand Banking Group Limited ABN 11 005 357 522

ANZ - Australia & New Zealand Banking Group Ltd. published this content on 03 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 02 October 2017 22:19:01 UTC.

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Financials (AUD)
Sales 2020 18 550 M
EBIT 2020 9 628 M
Net income 2020 6 113 M
Debt 2020 -
Yield 2020 6,16%
P/E ratio 2020 12,0x
P/E ratio 2021 11,6x
Capi. / Sales2020 3,90x
Capi. / Sales2021 3,86x
Capitalization 72 351 M
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Number of Analysts 14
Average target price 26,55  AUD
Last Close Price 25,49  AUD
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Shayne Cary Elliott Chief Executive Officer & Executive Director
David M. Gonski Chairman
Michelle Jablko Chief Financial Officer
Gerard Florian Group Executive-Technology
Paula Jane Dwyer Independent Non-Executive Director