Homestore to Acquire Move.com.The Internet's largest real estate portal, Homestore.com, said it will acquire Cendant Cendant Corporation was a New York-based provider of business and consumer services, primarily within the real estate and travel industries. Although the company was based out of New York City, the majority of Cendant's headquarters employees were located in Parsippany-Troy Hills, Corp.'s Move.com Move.com (NASDAQ: MOVE) is a real estate web site, parent company Move, Inc., which also operates Realtor.com. Move provides search tools for rentals and new homes, in addition to operating several subsidiaries. in a $761 million stock transaction that further solidifies the Thousand Oaks-based firm's dominance of the online real estate category. With 1.5 million home listings - considered the key ingredient
An ingredient is something that forms part of a mixture (in a general sense). for online real estate firms to draw traffic to their sites - the combined clout of Homestore and Move.com would far outpace out·pace tr.v. out·paced, out·pac·ing, out·pac·es To surpass or outdo (another), as in speed, growth, or performance. outpace Verb [-pacing, the second-largest contender in this category, HomeAdvisor com, with 800,000 listings. Because Homestore already had temporary access to New York-based Cendant's400,000 home listings, the planned acquisition is likely to have a greater impact on a race by real estate Web site operators to develop new technologies they hope will lead to paperless real estate transactions. |
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