AVM roll-up cleared for RP Data

RP Data is clear to proceed with its planned purchase of the ValEx Group and the VMS Division of Sandstone Technology, which will give the firm a 70 per cent share of a valuation services market.

The firm yesterday said the Australian Competition and Consumer Commission raised no objections after a two month review.

RP Data will pay $26 million for ValEx and $20 million for VMS. This values the two businesses at five times the expected 2010 EBITDA of the business, RP Data said.