The planned acquisition of Dynamic Methods by REA Group pauses amid ACCC scrutiny, suggesting an amicable resolution for both parties
The acquisition plan between REA Group and Dynamic Methods underwent an ACCC investigation in November, initiated by a third party’s notification to the regulatory body.
David Howell, CEO of Dynamic Methods, emphasized the company’s compliance with the ACCC’s investigation and clarified that the proposed acquisition would not have led to diminished competition.
Acknowledging REA Group’s decision to halt the deal, Howell expressed gratitude to the senior leadership for their diligence in assessing the acquisition proposition. Despite the pause in the sale, Howell assured that Dynamic Methods would continue its operations seamlessly.
Dynamic Methods, renowned for its national platform for digital real estate forms, collaborates with state real estate institutes, excluding Victoria, on creating and managing real estate documentation. In Victoria, the state institute operates a competing forms platform.
The ACCC expressed concerns regarding the potential merger’s impact on competition, given REA Group’s significant presence across various real estate sectors, including advertising services, digital forms, agency software, and property data.
Howell maintained that the merger could have driven innovation in digital forms, emphasizing Dynamic Methods’ commitment to advancing technology for real estate entities.
Howell reiterated Dynamic Methods’ commitment to their core mission of enhancing customer experiences and streamlining form-related processes in collaboration with the real estate industry, despite the setback in the acquisition plans.
