Realogy Holdings Corp. says it owns 80.2 percent of the outstanding shares of ZipRealty and will be able to purchase additional shares from the company to close its acquisition of ZipRealty today without seeking approval from shareholders.

The real estate franchise and brokerage giant said its tender offer to purchase all outstanding shares of ZipRealty expired Wednesday night, with 17.6 million shares validly tendered.

Realogy then exercised a “top-up” option in its merger agreement to purchase additional shares from ZipRealty. When the acquisition is completed today, the Emeryville, California-based real estate brokerage and tech provider will become an indirect, wholly owned subsidiary of Realogy.

In reporting a $1.9 million net loss for the quarter ending June 30, ZipRealty disclosed the companies had agreed to settle a potential class-action lawsuit by ZipRealty shareholders, and that antitrust regulators would not stand in the way of the deal.

Realogy says it’s acquiring ZipRealty not only for its residential brokerage operations, but also for its “Powered by Zip” technology platform, which generates and manages leads.

Show Comments Hide 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.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
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