RP Data will diversify its business as a vendor of specialist property information to lenders by agreeing to buy Pacific Property Technologies, a specialist in "electronic valuation review" for $9 million in cash and shares. The purchase price is about 1.8 times 2007 revenues for PPT.The price is also subject to an earn-out for the vendor.RP Data said it expected the takeover to be EPS accretive within 18 months.Pacific Property has its EVR solution deployed at twelve financial institutions including Commonwealth Bank, HSBC Bank Australia, St George, ING and AMP.The company launched in 2003 offering marketing property valuation workflow services to financial institutions. PPT sells a patented process for automating the workflow for valuers to receive, conduct and deliver electronic desktop valuations directly into the mortgage lenders' core systems. The goal is to finalise a property valuation within six hours.RP Data is 38 per cent owned by First American and 10 per cent owned by Macquarie.