[Update: Zillow acquisition of Trulia closes Tuesday, Feb. 17. Zillow Group formed to house consumer and business divisions]
[Feb. 13]: Zillow announced Friday afternoon that it may be closing its $2.5 billion acquisition of Trulia as early as Tuesday. According to an article in Geekwire, Seattle-based Zillow reported that the Federal Trade Commission completed its investigation to review any potential anti-trust violations. The deal will bring together two former rivals, Zillow and San Francisco-based Trulia, an acquisition that was announced earlier this year in July.
According to Geekwire, in regards to anti-trust concerns about the merger, “CEO Spencer Rascoff told CNN in July that a combined Zillow and Trulia company would control just 4 percent of the overall real estate marketing spend in the U.S.,” adding that advertising spending has not migrated to the Internet yet.
According to an LA Times article, the acquisition would create a “behemoth” in the online real estate listing space. “The rapid consolidation is designed to cut costs and capture a larger share of the $12 billion spent each year on real estate advertising,” the article noted.
Read more about the acquisition at RISMedia.com: