Breaking Property News – 12/07/2023
Daily bite-sized proptech and property news in partnership with Proptech-X.
Aurelius acquire TM Group
PRESS RELEASE TM Group, the UK’s leading provider of data and technology services to the property market, is pleased to announce the sale of the business to AURELIUS, a pan-European alternative investment firm with global reach focused on private equity, private debt and real estate. This partnership marks an exciting new chapter for TM Group, as it continues to streamline the property transaction for the benefit of all.
The sale will conclude the undertakings entered into following the decision of the UK Competition & Markets Authority (CMA) that the acquisition of TM Group by Dye & Durham, originally agreed in July 2021, would have reduced competition for the provision of property searches in England and Wales. Throughout this period of uncertainty, TM Group has continued to successfully run and grow its business, focusing on developing forward-thinking solutions to enhance and accelerate property transactions.
With AURELIUS’ support, TM Group will continue to develop and expand its portfolio of customer-facing solutions, serving all key constituents involved in property due diligence. Exciting new developments, including its Seller’s Upfront Information, Secure Data Sharing and Property DNA proposition, will further deliver on TM Group’s commitment to client service, delivering efficiency and time-saving benefits to its customers.
Joe Pepper, CEO of TM Group, commented: “We are thrilled that the sale of TM Group to AURELIUS has now been completed, and to have secured further investment from AURELIUS, a partner that shares our vision for growth and innovation. This collaboration will allow us to further develop and enhance our product offerings, leverage our strong brand recognition, and continue to build on our prominent property market presence.”
Tristan Nagler, Partner at AURELIUS, added: “We are excited to work with TM Group to enhance its best-in-class services and due diligence insights. Our investment will bring additional opportunities for TM Group to develop its innovative and market-leading product offerings at the heart of the UK property market, while also continuing to focus on outstanding client service.”
TM Group will work with AURELIUS to further enhance its end-to-end solutions for every step of the property transaction, delivered through TM Group’s proprietary software tools.
OnTheMarket unvail Otiem its AI property search Assistant
By Natasha Afxentiou for OnTheMarket
Otiem (pronounced oh-tee-em) incorporates AI natural-language technology to make the search for your next property even easier and was soft launched at the start of July on the desktop and mobile browser versions of the buy and rental sections of our site before officially going live.
Using our intuitive AI assistant allows you to enter your searches in the same way you’d describe your ideal property when speaking to an agent or a friend, without needing to manually filter each of your requirements, clever, eh?
For example, you could search for “three-bedroom houses in Brighton up to £650,000 with parking and a garden”
and Otiem will match the criteria to existing filters and our Wish List feature to return properties that best fit your needs. Soon you’ll also be able to speak your searches directly to Otiem on mobile devices through our OnTheMarket iOS and Android apps, which are currently in development and expected later this year.
Searching for your dream property should be a fun and easy process, and Otiem will help ensure you have more time to spend looking at properties by enhancing your search experience.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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