The PropTech Group Limited (ASX:PTG) has signed two deals in the last two days, which supported its shares to jump on ASX. At AEDT 1:25 PM, PTG shares were trading at A$0.435, up 8.749% from the previous close.
Deal to Acquire Website Blue
On 23 February 2021, PropTech Group signed a deal to acquire a real estate website and marketing company, Website Blue. As a part of PTG, Website Blue would increase the average revenue per agent, improve the number of customers, and support product innovation throughout the entire PropTech Group.
The total consideration to acquire Website Blue is up to A$1.5 million which would be made in cash as well as PTG shares.
Deal with Ray White Group
On 22 February 2021, PropTech Group signed a deal with Ray White Group that would see Ray White Group remaining PTG’s largest customer and novate its franchisees’ sales CRM systems from MyDesktop to VaultRE.
DETAILED DISCUSSION AT: What is driving PropTech’s (ASX:PTG) shares on the ASX today?