Technology

Expect more company acquistions in real estate

The M&A space is moving right along -- here's proof

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Duane LeGate Commissions, Inc. CEO Duane LeGate is a humble guy, but a rich one. According to my sources, the sale of of his company to Fidelity Financial went for somewhere in the $250 million range, a hefty price tag for a real estate software company that is only five years old. Not quite a mega Powerball lottery win, but close enough. The 50-something entrepreneur built a highly-prized company culture that was equally profitable and growing like a weed, attracting the interest of many buyers. Fidelity got the prize. Also stalking Commissions, Inc. were other “strategic buyers” and some private equity companies. While experts say it is not a hyper-active M&A market, buyers and sellers are poised for more and more deals in the coming months, according to my banking sources. One thing that has changed: There are more buyers than just Zillow and Move. Other strategic players like Fidelity Financial are active in the market. Fidelity has not only placed be...