Have you heard the news?
For those of you who don’t know, the leaders in commercial real estate marketing, technology and property information, CoStar and LoopNet, announced a short while ago that they will be merging. So what does this mean for subscribers? They’re not exactly sure yet. But what we do know is that it’s going to be revolutionary.
According to a CoStar press release, highlights of the company merge include the following:
Highlights of the Combination:
- Combines industry-leading large scale, game-changing technology platforms
- Maximizes customer value with highly complementary operations that create a larger more robust marketplace with hundres of thousands participants and billions of potetial connections
- Combines two profitable companies with strong cash flows while creating potentially significant opportunities to cross-sell services and reduce costs
- Represents a substantial investment in a company whose performance is correlated with general commercial real estate markets as they merge from historic lows and move toward recovery
- Both companies announce very strong first quarter 2011 financials further signaling an emerging strong sector recovery.
Want more information? Check out the CEO of CoStar, Andy Florance, discuss it on Fox Business.
CoStar Group to acquire LoopNet in $860M deal
What are your thoughts on the big merge? Bad move or good business?
