Daily Mail owner buys property search firms for £75m

The business information arm of Daily Mail & General Trust (DMGT) has agreed a £75 million deal to buy property searches group DIIG Europe.

The acquisition, from US private equity-backed Decision Insight Information Group, includes Edinburgh-based Millar & Bryce, which carries out legal searches for residential and commercial properties.

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DIIG Europe made an operating profit of £6m last year, on revenues of £69m, and DMGT said the business would complement its existing presence in the property market.

Suresh Kavan, chief executive of the group’s DMG Information division, said: “Acquiring this group of outstanding companies will greatly increase our strategic reach at a time of great opportunity in the property information industry.”