CoStar Group, a global provider of online real estate marketplaces, information, and analytics, offered to acquire OnTheMarket, a residential property portal, for £100m. “We believe the acquisition of OnTheMarket represents an attractive and efficient entry point into the $10tn United Kingdom residential property market. We are excited to welcome the OnTheMarket team to the CoStar Group family. OnTheMarket’s network of property professionals and breadth of advertiser relationships provide a strong foundation to compete with the dominant United Kingdom property portals. The combination of OnTheMarket’s large network of agents and access to listings, together with the marketplace experience and resources of CoStar Group, has the potential to create the leading agent-friendly player in the UK residential marketplace. We see OnTheMarket as an important step in expanding our Homes.com residential network not only in the UK, but across Europe. We believe the market opportunity in Europe is over $10bn, and we intend to participate aggressively in developing and expanding our residential marketplace network,” Andy Florance, CoStar Group Founder and CEO.