Real estate information provider Move has agreed to acquire fellow PropTech platform Opcity in a $210m transaction.
This deal will help to bolster the services offered by Move’s digital buying and selling property platform realto.com. The addition of Opcity will expand the company’s lead generation product portfolio, to enable real estate professionals to decide between a traditional lead product where they find leads manually, or a concierge-based model which provides transaction-ready leads.
US-based Opcity uses proprietary data sets, analytics, and machine learning technology to capture digital leads and connect them with real estate agents. Its services are used by over 5,000 brokerages and more than 40,000 real estate agents.
Move is a real estate information platform, tools and professional expertise provider which operates across a number of subsidiaries. These include online property buying and selling website realtor.com, mover fleet Moving.com and senior and elderly card property search platform SeniorHousingNet.
Realtor.com is a property marketplace which connects buyers, sellers and renters. Through the platform, users can also access mortgage tools to calculate what monthly payments would be and how much the buyer can afford.
Move CEO Ryan O’Hara said, “This acquisition will help us bring buyers, sellers and agents together with as much simplicity, efficiency and choice as possible. The addition of Opcity to our portfolio will align with our strategy to enhance the experience of consumers, while providing our industry partners with more opportunities to connect with clients and grow their businesses.”
Earlier in the week, Moody’s Corporation acquired Reis, a commercial real estate (CRE) data platform, in an all-cash transaction worth around $278m.
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