WASHINGTON, DC – Updata Partners is pleased to announce that Homesnap has signed an agreement to be acquired by CoStar Group (NASDAQ:CSGP), a provider of information, analytics and marketing services to the commercial property industry, for $250 million. The transaction is expected to close in 2020, subject to customary closing conditions and regulatory review. The combination will extend CoStar Group’s capabilities into the residential real-estate market.
Homesnap is an Updata V portfolio company and provides a mobile operating system for real estate agents, powered by data intelligence and predictive insights. Updata invested in Homesnap in November 2017 based on the Company’s unique access to MLS data, its mobile first platform, and its efficiency in agent acquisition. Since the initial investment, Homesnap has extended its agent marketing solutions, successfully launched a premium SaaS subscription offering, and tripled the number of monthly active users, delivering unmatched value to agents and brokerages.
CoStar’s press release can be found here.