Mitula Group Limited (ASX:MUA) has announced it has acquired South East Asian property portal network DotProperty for $11 million. 

 

DotProperty’s 10 property portals operate across nine South East Asian countries.

 

DotProperty is expected to increase Mitula’s monetization capabilities for the region, which is currently classed as an emerging market for the group.

 

DotProperty will operate as a separate division in the Group with existing CEO Ben Neve appointed as General Manager. 

 

Mitula Group Limited reported a net profit of $2.6 million at 31 December 2015.