CoStar Group to acquire Homesnap for $250m.

CoStar Group, a provider of commercial real estate information, analytics and online marketplaces, agreed to acquire Homesnap, an online and mobile software platform that provides applications to optimize residential real estate agent workflow and reinforce the agent-client relationship, for $250m. “Over the past thirty years, CoStar has become the leading real estate technology platform by working in partnership with commercial real estate brokers to serve their needs for data, analytics and advertising exposure for their property listings. Similarly, Homesnap works in very close partnership with residential agents to serve their needs for data, analytics and advertising exposure for their property listings. We will continue to differentiate our residential real estate portal and solutions by working solely to help agents market their listings and their brands, which is in sharp contrast to other portals that increasingly advertise on top of agent listings and offer brokerage services directly,” Andy Florance, CoStar Group founder and CEO. On December 17, 2020 CoStar announced FTC cleared the deal.