Scout24 has announced the acquisition of Fotocasa and Habitaclia from EQT. The Spanish platforms combine more than 8 million monthly active users, circa 1 million property listings and circa 14k agent customers. The acquisition represents an attractive opportunity for Scout24 to expand into one of Europe’s most dynamic real estate markets with two platforms offering significant growth potential.
Ralf Weitz, CEO Scout24 SE: “We are delighted to welcome Fotocasa and Habitaclia, two established Spanish real estate platforms with over 20 years of experience and deep local expertise, to the Scout24 family. We’ve successfully scaled online classifieds businesses and built market-leading customer experience. We’re confident in applying this playbook to unlock Fotocasa’s and Habitaclia’s significant potential and take the platforms to the next digitalisation level.”
Spain: One of Europe’s most attractive real estate markets
The Spanish real estate market exhibits attractive growth dynamics: 6% annual growth in transaction value since 2021. Spain represents a compelling strategic fit as the primary international property market for buyers, with existing cross-border demand creating content synergies between ImmoScout24, Fotocasa and Habitaclia.
Fotocasa & Habitaclia are strong assets with significant value creation upside
Fotocasa, founded in 1999 and headquartered in Barcelona, operates as Spain’s nationwide real estate platform, offering comprehensive services including property listings, online valuations, mortgage advisory services, and professional tools for real estate agents. Habitaclia, founded in 2001 and based in Mataro, is focused on the Mediterranean coastal regions including Catalonia and the Balearics – areas particularly popular with international buyers. Both established platforms create multiple touchpoints with domestic and international buyers while enabling targeted regional strategies for maximum impact.
Strengthening of Scout24’s ecosystem
Combined, Scout24 will serve approximately 40k B2B customers and 28 million monthly unique visitors across its platforms in Germany, Austria and Spain, creating one of Europe’s leading real estate ecosystems. The transaction strengthens Scout24’s position across three key dimensions: (i) scaling product and technology leadership, (ii) opening doors for Spanish and German agents into respective real estate markets, while giving Spanish and German seekers curated listings and local insights, and (iii) expanding data leadership by combining Fotocasa and Habitaclia data with Scout24’s existing content.
Transaction details
The transaction is valued at circa EUR 153 million enterprise value. Fotocasa and Habitaclia are projected to generate around 60 million of revenue and pro-forma EBITDA of around EUR 11 million in 2025. The companies will continue operating under their established brand names. The existing management team will remain in place, ensuring continuity in leadership and deep local market expertise.
The transaction is subject to customary regulatory approvals and the prior completion of EQT’s acquisition of Adevinta Spain, with closing expected within the next six months.
Scout24 will fund the acquisition through cash and existing credit facilities. The transaction will not have an impact on Scout24’s ongoing share buy-back programme or capital allocation priorities.
About Scout24
Scout24 is one of the leading tech companies in Germany. With the marketplace ImmoScout24, for residential and commercial real estate, we successfully bring together homeowners, real estate agents, tenants, and buyers – and we have been doing so for more than 25 years. With approx. 19 million users per month on the website or in the app, ImmoScout24 is the market leader for digital real estate listing and search. To digitise the process of real estate transactions, ImmoScout24 is continually developing new products and building up a networked, data-rich ecosystem for renting, buying, and commercial real estate in Germany and Austria. Scout24 is a listed stock corporation (ISIN: DE000A12DM80, Ticker: G24) and member of the MDAX, the DAX 50 ESG and the DAX 50 ESG+. Further information is available on LinkedIn.
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