Shareholders of Domain Holdings Australia have overwhelmingly approved a proposed $3 billion takeover by US property data giant CoStar Group, marking a major step forward in one of the year’s largest real estate technology deals. At a scheme meeting, Domain shareholders voted decisively in favour of the acquisition, with 99.98% of votes cast supporting the scheme resolution and 91.22% of shareholders present and voting also in favour.
The approval follows CoStar’s binding offer in May 2025 to acquire Domain at $4.43 per share, representing a premium of over 50% to the stock’s one-month volume-weighted average price prior to the deal. The proposal values Domain at approximately A$3.0 billion and has received strong support from Domain’s largest shareholder, Nine Entertainment Co., which owns approximately 60% of the company.
While the shareholder approval represents a major milestone, the scheme remains subject to court approval and several regulatory conditions. A hearing is scheduled for Wednesday, August 6, 2025, in the NSW Supreme Court, with Domain expected to lodge court orders with ASIC on Thursday, August 7, making the scheme legally effective. Implementation is slated for Wednesday, August 20, when cash consideration will be paid to eligible shareholders.
The acquisition marks a significant expansion of CoStar’s footprint in Australia and the Asia-Pacific region. Known for its powerful real estate data and analytics platforms in the US and Europe, CoStar has signalled strong interest in Domain’s media reach, digital classifieds infrastructure, and long-term strategic value in the Australian market.
Industry observers suggest the deal could reshape Australia’s property technology landscape, with agents, developers, and investors likely to see increased integration between media, listings, and data services. An independent expert appointed by Domain, Grant Samuel & Associates, concluded that the scheme is fair and reasonable and in the best interests of shareholders, in the absence of a superior proposal.
The transaction demonstrates growing consolidation in global property technology markets, as established players seek to expand their geographic reach and integrate complementary services. Pending final court approval, Domain shareholders will receive their scheme consideration in full by late August, marking the completion of one of Australia’s largest proptech acquisitions.
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*Offer ends on Friday, 7th February.
