Expert Agent says it is pleased the uncertainty surrounding its takeover had ended but suggests the Competition and Markets Authority’s announcement has prompted nothing more than “a muted celebration.”
Yesterday we reported that the CMA had cleared ZPG’s acquisition of Expert Agent, first announced on March 1 but subequently ‘called in’ by the authority for further investigation. Now the CMA has given the green light to the deal.
However in a newsletter to customers, seen by Estate Agent Today, Mike Griffiths - the former agent who set up the cloud-based software system for managing inventory, marketing and communications for the industry - explains what happens next.
The newsletter reads: “Very early this morning, we heard the news that ZPG's ownership of Expert Agent has been sanctioned by the CMA. We are all on a train heading for a day out in Weymouth. It will be a muted celebration. The uncertainty of the last three months has really taken its toll and we are just all relieved it is over.
“We are back to where we were in March. We are quietly optimistic about the future for you and us with Expert Agent in ZPG ownership. My aim is to make sure that the promises about product development, staffing, premises etc come to fruition quickly so that all of us - our staff, you our lovely customers and your clients will see some real benefits.
“Thanks to everyone that sent wonderful supportive messages yesterday. Rest assured that we will be dealing with urgent tickets between ice creams and donkey rides today then back to serious work with a renewed sense of confidence and focus tomorrow.”
When the news of ZPG’s acquisition was made public on March 1 Griffiths was quoted in a statement at the time: “We have known the ZPG team for many years and the combination with Expert Agent will be a clear win for UK agents ... Whilst remaining an independent solution, we will now be able to take Expert Agent to the next level with the backing of ZPG by integrating its existing products and investing further in the platform to ensure our members benefit from an end-to-end marketing and software solution.”