New Delhi, Oct 31 (TIWN) REA Group Ltd has entered into a binding agreement to acquire a controlling stake in Elara Technologies Pte Ltd, the owner of Housing.com, PropTiger.com and Makaan.com, in a deal that includes cash and newly issued REA shares.

The transaction is expected to close in the current quarter, subject to confirmatory due diligence.

REA Group CEO, Owen Wilson, said: “India is an incredibly attractive market and one that provides excellent long-term growth opportunities, while complementing REA’s footprint in Australia, Asia and North America. The country is forecast to deliver strong growth over the next decade as it continues to experience rapid digital transformation.”