FiNet.com signs agreement with RE Ventures. (Technology Update).FiNet.com, Inc. announced that it has signed a definitive agreement with RE Ventures, Inc. and its shareholders to acquire RE Ventures, a company that owns assets formerly owned by RealEstate.com, Inc. The assets of RE Ventures include: * The RealEstate.com domain name, a premier brand in Internet Real Estate "Internet Real Estate" is a popular buzzword that has two different definitions. First, "Internet Real Estate" can be used to describe the use of the Internet to promote, advertise, and view commercial and residential real estate for lease or purchase. services * The intellectual property, computer equipment and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. used to operate the RealEstate.com Website, including technology to build on-the-fly industry "Agent" and "Agent Plus" Web pages and related Customer Relationship Management tools * Several thousand real estate broker, mortgage broker and insurance agent hosted Websites; "We believe the acquisition of RE Ventures significantly strengthens FiNet's intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. and positions the company to dramatically grow its businesses," said Dan Rawitch, FiNet's chief executive officer. "The acquisition and integration of the RealEstate.com assets will put us in front of thousands of consumers, real estate professionals and mortgage brokers daily. This increased exposure, combined with FiNet's technology, will enable us to aggressively move the company forward," further stated Dan Rawitch. |
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