Zoopla owner ZPG to be acquired for $2.9 billion by Silver Lake

ZPG PLC the British owner of property website Zoopla, has reached a deal to be purchased by U.S. private firm Silver Lake for £2.2 billion ($2.98 billion), the companies said Friday. Silver Lake will pay 490 pence in cash for each ZPG share, representing a 31% premium over ZPG's closing price Thursday of 375.20 pence. ZPG runs property website PrimeLocation and price-comparison site uSwitch, among other brands. "Silver Lake is the global leader in technology investing and I am firmly of the belief that ZPG will benefit from their technology expertise and global network which will help accelerate our growth," said ZPG founder and Chief Executive Alex Chesterman in a statement. ZPG shares jumped 31% to £4.91 in London trade during Friday's session.