LoopNet has acquired BizBuySell, the operator of an online exchange of businesses for sale in North America, the company announced today. Terms of the acquisition were not disclosed.
LoopNet and BizBuySell are privately held companies. BizBuySell will be an independent business unit of LoopNet and will continue to deliver services via the BizBuySell.com Web site and build the BizBuySell brand. LoopNet Founder and Co-Chairman Dennis DeAndre has been named CEO of BizBuySell.
LoopNet provides information services to the commercial real estate industry. Its customers include AMB Property Corp., CB Richard Ellis, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, The CORE Network, Cushman & Wakefield, Grubb & Ellis, Lincoln Property Company, Marcus & Millichap, NAI, Prudential CRES, RE/MAX, RREEF, Sperry Van Ness, The Staubach Co. and Trammell Crow.
“More than 6,000 of LoopNet’s 260,000 active listings have both a commercial real property and a business for sale component,” said LoopNet CEO Richard Boyle.
Charleston, S.C.-based BizBuySell has an inventory of more than 27,000 businesses for sale. More than 400,000 users search the site monthly, according to the company.
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