Trulia acquisition of Market Leader closes

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Real estate search and marketing powerhouse Trulia has completed the acquisition of Market Leader Inc. for about $170 million in cash and about 5.3 million newly issued shares of company common stock, Trulia announced today.

The combined company will have about 50,000 premium subscribers, which Trulia says is more than any other online real estate marketplace.

Also today, real estate technology company Listingbook LLC announced it had filed a patent infringement suit against Market Leader.

Trulia announced the move to acquire Market Leader for $355 million in May. Market Leader will continue as a wholly owned subsidiary of Trulia.

Source: Trulia