Security Research Group plc has announced the merger of PSG Connect Limited with Property Information Exchange
Property Search Group (PSG), one of the UK’s leading property search provider and part of Security Research Group (SRG), has merged with Property Information Exchange (PIE), a leading online platform. The merger creates the number one property search service and search data provider in the UK.
Founded in 1997, PSG provides a cloud-based web platform that enables solicitors, licensed conveyancers and other professional individuals involved in the sale of properties to carry out residential and commercial property searches. Over the last two decades, PSG has evolved from a small operation to a nationally recognized brand and market leader in search provision. The firm is part of Security Research Group Plc.
PIE is a leading online platform providing power legal solutions to the dynamic property marketplace. These solutions are executed across a number of marketing channels.
SRG has two divisions, property information services and packaging solutions. The group is based in the UK.
Oaklins Cavendish, based in the UK, advised Security Research Group as the shareholders of Property Search Group on its merger with Property Information Exchange.
One of the team's partner which advised SRG on the transaction commented: “We are delighted to have advised the shareholders of PSG and to have found in PIE the right partner to enable the combined resources of the two companies to continue to expand in this competitive marketplace. This merger will see PIE and PSG unlock significant synergies from their complementary geographical reach and meet the growing demand for PIE’s and PSG’s unique offering.”
Another partner added: “The residential conveyancing search market in the UK is estimated to be worth over US$250 million per year at current transaction levels. With the UK government recently committing to stimulating high volume house building for private ownership and with mortgage lending and low interest rates forecast to remain over the next number of years, the market is set to benefit from these positive factors and the corresponding continued growth in the number of housing transactions. The number of residential transactions per year is conservatively forecast to increase to 1.1 million by 2019. PSG’s unique offering, which combines a smart technology platform with direct and indirect channel partner relationships with thousands of Legal Practices, places the group in a favorable position relative to its competitors.”
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