Move, Inc.’s $210 million acquisition of Opcity, a matching platform for real estate referrals, has been finalized, according to an announcement by News Corp, Move’s parent. The acquisition, announced in August, builds out the lead-generation offerings of realtor.com®, which Move operates.
“Real estate is an increasingly significant part of the News Corp portfolio, and the acquisition of Opcity deepens our engagement with agents and homebuyers alike,” said Robert Thomson, chief executive of News Corp, in a statement.
“Realtor.com and Opcity share a consumer-first philosophy that is focused on keeping real estate professionals at the center of the transaction,” said Ryan O’Hara, CEO of Move, Inc. “Our combination will enable us to more effectively bring buyers, sellers and agents together, improving the consumer experience and providing our industry partners with more opportunities to connect with clients and grow their businesses.”
Five-thousand brokerages, including Berkshire Hathaway HomeServices, Century 21 Real Estate and RE/MAX, and more than 40,000 agents already are on board the platform, according to the announcement. The company will keep its name, and Founder Ben Rubenstein will continue as CEO.
Since its acquisition by News Corp in 2014, Move’s revenue has shot up, at $452 million in FY 2018. In addition to realtor.com, the Move network includes Doorsteps®, FiveStreetSM, ListHub™, Moving.com™, Reesio, SeniorHousingNetSM and Top Producer® Systems.
For more information, please visit www.realtor.com.
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