Move buys real estate listing company
Online real estate company Move announced Sept. 21 that it has purchased Threewide Corp., operator of online real estate syndicator ListHub, for $13 million in cash.
Move, officially based in Campbell but with major operations in Westlake Village, operates Move.com and Realtor.com. West Virgina-based Threewide will become a Move subsidiary but will maintain the ListHub brand, Move said in a news release.
ListHub’s products and services include syndication of 2.4 million property listings from more than 270 Multiple Listing Services and 38,000 brokers to more than 70 real estate marketing websites, according to the news release.
“Online real estate today can be a fragmented experience for consumers and real estate professionals, and the related content is often inaccurate,” Move CEO Steve Berkowitz said in an earnings release. “By acquiring Threewide and elevating the ListHub brand to a primary product offering at Move, we’ll combine Move’s core competencies of listing aggregation, relationship management and the delivery of effective marketing services with ListHub’s leadership in national syndication and market intelligence.”
The deal was finalized Sept. 20 and is expected to dilute Move’s earnings per share by 1 to 2 cents in 2011, the firm said.