CoStar Group completed the acquisition of Ten-X for $190m.

CoStar Group, the provider of commercial real estate information, analytics and online marketplaces, completed the acquisition of Ten-X, a commercial real estate marketplace, for $190m. “Together, Ten-X and CoStar plan to create a new end-to-end commercial real estate platform, combining LoopNet and CoStar’s unmatched online audience of buyers with Ten-X’s clear leadership in online auctions for both performing and distressed assets. Combining our complementary capabilities is expected to create significant benefits for brokers and the institutions they represent by exposing their properties for sale to the biggest pool of potential bidders on the most trusted digital transaction platform and delivering fast and reliable trade execution. In the aftermath of the economic disruption which is being caused by the global pandemic, we believe that the volume of distressed properties coming to market will surge and that this combined platform will support the market’s recovery,” Andrew Florance, CoStar Group Chief Executive Officer.