Divestiture • Internet Software and Services

CoStar Acquires Homes.com

On April 14, 2021, CoStar acquired internet software and services company Homes.com from Dominion Enterprises for 156M USD

Acquisition Context
  • This is CoStar’s 9th transaction in the Internet Software and Services sector.
  • This is CoStar’s 10th largest (disclosed) transaction.
  • This is CoStar’s 15th transaction in the United States.
  • This is CoStar’s 3rd transaction in Virginia.

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M&A Deal Summary

Date April 14, 2021
Target Homes.com
Sector Internet Software and Services
Buyer(s) CoStar
Sellers(s) Dominion Enterprises
Deal Type Divestiture
Deal Value 156M USD

Target Company

Homes.com

Norfolk, Virginia, United States
Homes.com is a residential property listing and marketing portal that supports over 500,000 residential agents and brokers in the home sale process. The company provides advertising and marketing services to residential brokers and agents based on listing feeds that cover more than 90% of all Multiple Listing Services (MLS) subscribers in the United States. Homes.com is headquartered in Norfolk, Virginia.
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Buyer Overview 1

Buyer

CoStar

Washington, District of Columbia, United States

Category Company
Founded 1987
Sector Information Services
Employees6,593
Revenue 2.7B USD (2024)
DESCRIPTION
CoStar office in Columbia, Maryland.
CoStar office in Columbia, Maryland.

CoStar is a provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of products offers customers access via the Internet to the most comprehensive, verified database of commercial real estate information. CoStar was incorporated in 1987 and is based in Washington, District of Columbia.


Deal Context for Buyer #
Overall 17 of 25
Sector: Internet Software and Services 9 of 13
Type: Divestiture 3 of 4
State: Virginia 3 of 3
Country: United States 15 of 18
Year: 2021 1 of 2
Size (of disclosed) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-22 Homesnap

Bethesda, Maryland, United States

Homesnap, Inc. is an online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Over 300,000 agents nationwide use the application an average of 30 times each month. Those 300,000 agents are also the nation’s most productive, selling the majority of homes in the US. Homesnap is based in Bethesda, Maryland.

Buy $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-01 BureauxLocaux

Paris, France

BureauxLocaux is a specialized property portal for buying and leasing commercial real estate in France, with over 60,000 for sale and lease listings. BureauxLocaux was founded in 2008 and is based in Paris, France

Buy -

Seller Profile 1

SELLER

Dominion Enterprises

Norfolk, Virginia, United States

Category Company
Sector Information Technology
Employees3,000
DESCRIPTION

Dominion Enterprises is a Norfolk, Virginia-based media and information services company for the automotive and commercial vehicle, real estate, apartment rental, employment and travel industries. It has Internet and printed media operations.


Deal Context for Seller #
Overall 3 of 3
Sector: Internet Software and Services 2 of 2
Type: Divestiture 3 of 3
State: Virginia 2 of 2
Country: United States 3 of 3
Year: 2021 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-12 ForRent

Norfolk, Virginia, United States

ForRent is a digital advertising through a network of four multifamily websites which includes ForRent.com, AFTER55.com, CorporateHousing.com and ForRentUniversity.com. ForRent had approximately 17,000 properties advertised on its websites as of June 2017. Through the first six months of 2017, these sites generated over 47 million visits and an average of 3.5 million unique monthly visitors. ForRent is headquartered in Norfolk, Virginia, and has 475 employees located in 38 offices around the United States.

Sell $350M