Homes.com has been acquired for an undisclosed price by Trader Publishing Co. The sale is positioned as a strategic acquisition by Trader Publishing, which owns 680 publications and Web sites, including Harmon Homes real estate magazine.
Homes.com, as a subsidiary of Trader Publishing, will continue to operate as it currently does.
“I am delighted with the immediate benefits that this merger will provide to real estate professionals, consumers, advertisers and our employees,” said Homes.com CEO Tom Orsi. “This is a very positive step for both companies and the markets we serve.”
“We are extremely pleased to add such a powerful and intuitive URL as www.homes.com into our family of other great URLs,” said Peter Ill, vice president of Trader Publishing. “Homes.com is a leader in lead generation Web site technology as well as a recognized brand name to both real estate professionals and online consumers searching for a home. Their business model is strong, profitable and efficient, and they have a remarkable group of dedicated employees.”
Homes.com is a testimony to staying power through the dot.com burst and bust. The company under previous management raised more than $40 million and then filed for Chapter 11 bankruptcy protection in March 2001.
At the time of the bankruptcy, Orsi said, “We’re not shutting our doors. We’re not shutting our Web site or any products or services.”
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