IDS Acquires VM Online Business from Thomson Reuters (Australia)

MELBOURNE- 30 November 2018- Insight Data Solutions (IDS), a leading provider of proprietary property data and analytics, has expanded its government services with the acquisition of Thomson Reuters’ VM Online.

A powerful and robust tool used by governments for mass valuation of property markets, VM Online is the primary provider of valuation technology to municipalities throughout Victoria.  

IDS CEO, Louie Psaroulis, said: “The acquisition of VM Online is an important step in our strategy to be the property data, valuation, and analytics technology provider of choice for governments in Australia and New Zealand.  

“We welcome Victoria’s Valuer General and its councils as our clients and users, and look forward to working with them and their valuation service providers to bring new levels of accuracy and efficiency to the mass valuation process.” 

Thomson Reuters’ VM Online team will transition to IDS as part of the acquisition, providing subject matter expertise, credibility and relationships to IDS as it enters the Australian property valuation space.

Tony Kinnear, Managing Director, Thomson Reuters, Asia and Emerging Markets, said: “Thomson Reuters’ team of experienced experts are moving to IDS, meaning customers will continue to receive the same level of high-quality service with no disruption.” 

“IDS is committed to continuing the enhancement the VM Online platform to further streamline the valuation process which will benefit customers in the future,” he said. 

IDS Government Services specialise in data management, integration, price modelling, and risk mitigation for the Government sector. Its key staff have several decades of experience delivering property services and IT solutions to both the Government and Financial sectors. 

IDS founders Louie Psaroulis, Mike Thanos, and Chris Spanos have decades of experience delivering valuation, data and decisioning solutions to the financial services industry.  Following the acquisition, Andrew Noseda will join the leadership team of IDS Government Services. Andrew is a Fellow of the Australian Property Institute (FAPI), Associate of the Royal Institution of Chartered Surveyors (MRICS), Certified Practising Valuer (CPV), Associate Member – Member – The International Property Tax Institute.

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About Insight Data Solutions

Insight Data Solutions is a leading provider of proprietary property data and analytics to the financial services and fin-tech industry. IDS’s Automated Valuation Model (“AVM”) and suite of indices have been built from the ground up for Australia’s data landscape, electronically valuing every Australian residential property in real-time for consumers and institutions. IDS empowers its customers to streamline lending processes to acquire and retain customers. For more information, visit www.ids.io.

About Thomson Reuters

Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.