Realtor.com operator Move Inc. has purchased Relocation.com, a consumer-facing website that links homebuyers and renters with movers and storage facilities, for $11.5 million in cash, and will merge the company into its existing lead generation business for moving professionals, Moving.com.

"Our goal is to create the leading online marketplace for real estate-related information and services," said Steve Berkowitz, Move’s CEO, in a statement. "Bringing Relocation.com under the Move umbrella and merging it with our Moving.com business extends our value to consumers by increasing the resources and tools at their disposal."

Realtor.com operator Move Inc. has purchased Relocation.com, a consumer-facing website that links homebuyers and renters with movers and storage facilities, for $11.5 million in cash, and will merge the company into its existing lead generation business for moving professionals, Moving.com.

"Our goal is to create the leading online marketplace for real estate-related information and services," said Steve Berkowitz, Move’s CEO, in a statement. "Bringing Relocation.com under the Move umbrella and merging it with our Moving.com business extends our value to consumers by increasing the resources and tools at their disposal."

Move said the acquisition also bolsters the company’s focus on the U.S. residential rental market, which is expected to grow by 5 to 6 million households in the next decade, Move said, citing figures from the Washington, D.C.-based Bipartisan Policy Center.

Of the $11.5 million in cash Move has agreed to pay for Relocation.com, $9.5 million was paid upfront when the deal closed. The remaining $2 million will be paid in two equal installments on the next two anniversaries of the deal. The acquisition will show up in Move’s fourth-quarter financial statements when the company expects to report revenue from Relocation.com.

Relocation.com is the fourth Move acquisition in a little over two years. In early September, Move purchased real estate lead generation and management company TigerLead Solutions LLC for $22 million.

Move acquired social media search platform SocialBios in July 2011 on undisclosed terms, after entering the listing syndication business in 2010 by acquiring ListHub parent company Threewide Corp. for $13.1 million.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
EXTENDED: Last call for the best price of the year on the best events in real estate.Register now×
Cyber Monday Sale - EXTENDED! Get 1 year of Inman Select for $75. Offer expires at midnight.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription