News publisher ACM has strengthened its foothold in the real estate sector with an investment in business connections service Beevo.
Beevo connects businesses to essential services such as energy, internet and EFTPOS, when they lease or buy a commercial property. It also helps businesses review their agreements with existing services, in order to make savings.
ACM executive chairman Antony Catalano said the deal would allow the publishing company to move beyond its traditional offering of advertising products to further support the development of digital solutions for the commercial property sector.
"The deal is a win-win," Mr Catalano said. "ACM has the ability to drive awareness of the Beevo offering to our audience of 6.4 million Australians every month, while Beevo provides not only a great service but will deliver true cost savings in essential services for many of our business clients.
"Investment in a company like Beevo deepens our relationships with these businesses. The more knowledge we gain on our clients the more we can tailor solutions to help their businesses long term."
Beevo is headed by founders James Nooney (CEO) and Samuel Daish (COO), who reclaimed control of the business - with supporting investment from Mr Catalano - in 2019, after exiting a joint venture with Domain. The Beevo board includes former Fairfax CEO Greg Hywood as chairman.
Mr Catalano said Beevo was a market leader in its field and had achieved impressive growth in what had been challenging times for many businesses.
Mr Daish said the partnership with ACM would open marketing opportunities across the publisher's digital and print publications.
"Additionally, it gives us the ability to continue our investment in building a meaningful technology solution for our commercial agency partners," he said.
The investment in Beevo has been made by IMP, the real estate digital media investment vehicle of Antony Catalano and Alex Waislitz. IMP holds equity in realestateview.com.au, Propic and other property-related tech start-ups as part of a strategy to build an integrated real estate digital media and agent services company, targeting the $250 billion annual real estate transaction market.
Read more:
"We believe Beevo will give us a critical touchpoint in the commercial property market and will also contribute to our ambitions across the broader group," Mr Catalano said.
Mr Daish said the investment offered a strategic opportunity for Beevo to connect with other businesses in the IMP group that would assist Beevo's growth.
Mr Catalano and Mr Waislitz bought ACM, publisher of this website and Australia's largest privately owned media business serving suburban, regional and rural communities, in 2019.
Joanne Crawford
I love being able to connect with people right across the country. Creating strong, sustainable communities and maintaining an independent news voice for regional Australia are important to me. And family, and walking barefoot in the garden.
I love being able to connect with people right across the country. Creating strong, sustainable communities and maintaining an independent news voice for regional Australia are important to me. And family, and walking barefoot in the garden.
