DMG Information, a subsidiary of the Daily Mail and General Trust, agreed to acquire Property & Portfolio Research, an independent real estate research and consulting firm. DMG said it will pay $18 million for the company now, and up to another $17 million in three years, depending on how well PPR performs. DMG invests in information-driven companies and now is emphasizing real estate information.
Susan Hudson-Wilson, PPR founder and CEO, said she and her staff of 38 will stay on and continue to operate independently. "In order to grow, we needed a parent to back us. Now we will be in a position to make acquisitions and still remain independent.