The merger is intended to enhance the capabilities and services the two companies are able to provide to clients and is a response to the increasing demand for more integrated data delivery, both here and globally.
“This is about bringing two successful companies and two strong teams together,” said Bill Osborne, Chairman of PropertyIQ.
“Each company brings complementary expertise to enable the merged operation to offer an expanded range of services to better meet the needs of customers.”
In particular, there are exciting opportunities to enhance the specialty property data services of PropertyIQ with the geospatial data and expertise from Terralink International to expand the client base in New Zealand and take on global clients, Mr Osborne said.
PropertyIQ Chief Executive Nigel Jeffries said the combining of the two companies will also help strengthen the companies’ ability to deliver end-to-end information and solutions for even the most complicated projects.
“Business and consumers are increasingly demanding the types of services and responsiveness that this merger will provide, and we are well-placed, through the combination of our IP and people, to be able to meet those needs,” he said.
Terralink International Managing Director Mike Donald said the merged firm will have the scale and capability to compete globally.
“New Zealand’s size and scale means the merger makes sound business sense in terms of ensuring the sustainability of both companies and the services we provide to the market.
“Both companies are seeing increasing demand from customers to match geographic reality with property related information, whether that is for business purposes, for government agencies or at local government level,” said Mr Donald.
In recent times, the need for and ability to match property information and records with geographic and geospatial data to form a real world view has become evident in civil defence and emergency situations, such as the Christchurch earthquakes.
“Being able to use property data and map that to a real world view using up-to-date geospatial information is vital in these situations, and is increasingly important for consumers who rely on smartphones and other devices to navigate, do business, and for shopping or recreation.”
The PropertyIQ-Terralink merger will add to New Zealand’s growing smart-tech, business growth profile. The transaction will likely complete by the end of September.
ABOUT PROPERTYIQ: PropertyIQ delivers online property information to clients across a wide range of business and public sectors. They are all about helping customers to make smarter decisions around risk management, lending, investment, market intelligence, decision support. Their clients include major trading banks, financial institutions, real estate businesses, central and local government agencies, data resellers and a range of property professionals – mortgage brokers, financial advisors, investors, and valuers. PropertyIQ’s brands include: QV.co.nz, iAdvise, RPNZ and cityscope.co.nz
ABOUT TERRALINK INTERNATIONAL: Terralink International is a private company and is New Zealand’s leading provider of geospatial services and solutions. Today, they are a trusted land and property information provider providing the critical spatial data that underpins much of New Zealand’s infrastructure and high tech economy. At the core of Terralink’s business are spatial databases containing layers of information about every point of New Zealand. We hold, maintain and manage New Zealand’s most comprehensive, accurate, and up-to-date land and property database. Our data is trusted by the NZ Police, NZ Fire Service, and Ambulance emergency services for whom we have been a key incumbent provider of location data for over a decade. Key offerings include Zoodle, eMap, StreetCam3D, Terranet, NZ MasterMap, Property Guru and Location Business Intelligence.