REA Group shares leap after acquisition

26 Apr 2016
The $25 million purchase of Flatmates.com.au has apparently been good for REA Group, whose share price leaped more than 4 percent to $52.20 in Tuesday morning trading, according to Propertyportalwatch.com. Established in 1990, the purchased company is Australia’s biggest share accommodation website and receives a reported average of 2.6 million visits and 9 million flatmate searches monthly.


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Patrick Peterson

Patrick Peterson joined the AIM Group in 2014 as the editor for Asia and Latin America. With 30 years of daily journalism experience as a writer and editor, Patrick Peterson has covered a diverse range of topics, from the invasion of Iraq to the business of the U.S. space industry.He has worked for newspapers in Jackson, MS; Hampton, VA; Biloxi, MS; and Melbourne, FL. He is now a freelance business writer in Orlando, where he lives with his wife, Lisa, who teaches film production management at the University of Central Florida.