The two companies will launch Globrix.ie, the first free-to-list property search engine in the Republic of Ireland, in September. However, it will be managed and run by Independent News & Media's digital arm, Independent Digital, which is licensing the site from NI.
The deal was brokered by Thomas Wright, commercial manager at Independent Digital, and Daniel Lee, chief executive of Globrix.
Under a brand licence agreement, a 12-strong Independent Digital Globrix.ie team will sell advertising around the site.
Rivalling Myhome.ie and Daft.ie, Globrix.ie aims to take 30% of the Republic of Ireland property display ad market by the end of 2010.
Globrix.com attracts one million unique users a month in the UK. With a population of four million in the Republic of Ireland and fewer competitors, Globrix.ie is aiming for 500,000 unique users a month.
Like its UK counterpart, it will only list properties marketed by estate agents and will send people straight through to an agent's site.
In addition, Globrix.ie will be able to index properties automatically, and in real time, through aggregator technology and feeds.
Based on the Google model, advertising will be sold based on keywords.
Globrix launched in the UK in January 2008 after News International made a multimillion- pound investment in Globrix in late 2007 to take an undisclosed, minority stake.
News International also part-owns another property search engine, Propertyfinder. While Propertyfinder charges estate agents to catalogue their properties, Globrix searches and lists UK properties for sale or rent.
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