<article>Sri Lankan property portal LankaPropertyWeb has acquired local competitor lamudi.lk in a move that it claims establishes it as the leading portal in the country.</article>

Sri Lankan property portal LankaPropertyWeb has acquired local competitor lamudi.lk in a move that it claims establishes it as the leading portal in the country.
In an official announcement, LankaPropertyWeb said it is acquiring lamudi.lk&#8217;s listings and the local operations of <a href="https://www.dealstreetasia.com/tag/Lamudi">Lamudi</a> Sri Lanka. No financial details were disclosed in the announcement.
Lamudi.lk is the Sri Lankan site of Lamudi, a global online property portal focusing exclusively on emerging markets, backed by Rocket Internet. Lamudi launched its operations in Sri Lanka in 2014 and quickly rose to become a significant property platform in the country.
Following the acquisition, LankaPropertyWeb said it aims to expand its reach and property portfolio to provide improved services to property buyers, sellers, renters and real estate agents.
With the combined listings of the two sites, LankaPropertyWeb said it will now host the largest collection of Sri Lankan property listings and be the de-facto website for anyone searching for property in the country.
“With the exponential growth we have experienced over the past decade, this acquisition is only a natural move. Our intent is to create a single destination for all things property in Sri Lanka and this acquisition helps us achieve that vision,” said Daham Gunaratna; Founder and Managing Director, LankaPropertyWeb.
Interestingly, the acquisition comes just over a month after Lamudi received what is believed to be a substantial amount of fresh funding from new strategic investors, media and digital classifieds firms Ringier AG and Axel Springer.
Lamudi founder and CEO Kian Moini had then said that the majority of the fresh funds will be used to further the company’s growth, “given the company’s comfortable financial situation and clear path to breakeven”.
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The acquisition of lamudi.lk's listings and the local operations of Lamudi Sri Lanka will enable LankaPropertyWeb to expand its reach and property portfolio.

Sri Lanka's LankaPropertyWeb acquires local unit of property site Lamudi

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Sri Lanka's LankaPropertyWeb acquires local unit of property site Lamudi

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