LoopNet buys BizBuySell

Founder to operate online exchange of businesses for sale

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.