A deal like Realogy Holding Corp.'s planned $166 million acquisition of brokerage and real estate tech provider ZipRealty doesn't just happen overnight. In a pitch to shareholders, ZipRealty reveals that starting in March, it shopped itself around to 43 companies, including "25 major companies in the real estate brokerage, services and technology" business, and "18 financial sponsors with a focus on technology, real estate and business services." The search for suitors came after Realogy turned down an offer to take a 20 percent stake in ZipRealty last fall. Starting in January, ZipRealty explored not only a sale of the whole company, but a sale of the brokerage business and software business to two distinct buyers, or a brokerage-only sale and a software-only sale. Realogy says t...
Jul 17, 2014 by Andrea V. Brambila
May 5, 2014 by Andrea V. Brambila