Emoov and Countrywide merge: it could have happened… – The Property Chronicle
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Emoov and Countrywide merge: it could have happened…

Residential Investor

Emoov and Countrywide: what a pair, observers might say.

They present a tale of two failures – although, in the case of Countrywide, it’s still theoretically possible that victory could be snatched from the actively-snapping jaws of defeat. 

Yet what if something very different had happened in the recent past? 

What if Emoov and Countrywide had collaborated when Emoov was buoyant and still growing and Countrywide was valued at many times its current market capitalisation?

That collaboration could have ranged from just working together, or perhaps some kind of merger, through to a more formal acquisition. In theory, at least, this could have happened, and for the first time details have emerged of what might have been.

The chief executive of Emoov in its original ownership, Russell Quirk, went to see Countrywide’s executive chairman Peter Long in October 2017 to discuss such collaboration. 

The proposal from Quirk was that Emoov would benefit from a cash investment and growth and the credibility of Countrywide’s then highly-regarded status as a Plc. 

In return Countrywide would have an insight into what was, at that time, growing online market share without having the cost of creating a new online operation. 

The offer was not taken up and although overtures continued, Countrywide finally ended any lingering prospect of joint activity in late 2018. 

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