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Slide #58. CoStar Group — Apartments.com
CoStar Group (NASDAQ:CSGP)
CoStar Group, Inc. (Nasdaq:CSGP), the leading provider of commercial real estate information, analytics and marketplaces, today announced it has signed an agreement to acquire Apartments.com ("Apartments"), a division of Classified Ventures, LLC, for $585 million in cash. Apartments is a premier online apartment rentals resource for renters, property managers and owners. The boards of directors of CoStar Group, Inc. and Classified Ventures, LLC have unanimously approved the transaction, which is expected to close in the second quarter of 2014.
CoStar Group is a provider of information, analytics and online marketplaces to the commercial real estate industry in the U.S. and U.K. Co. provides online marketplaces for commercial real estate, apartment rentals, lands for-sale and businesses for-sale, and its services are typically distributed to its clients under subscription-based license agreements that renew automatically, a majority of which have a term of at least one year. Co. operates within the following operating segments: North America, which includes the U.S. and Canada: and International, which primarily includes Europe, Asia-Pacific and Latin America.
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Strong Buy (3.50 out of 4)