麻豆果冻传媒 Completes Acquisition of Opcity
Market-leading tech platform will enhance realtor.com庐 and lead generation offerings to benefit real estate professionals and consumers
New York, NY 鈥� October 11, 2018 鈥� 麻豆果冻传媒 announced today that its subsidiary Move Inc., operator of realtor.com庐, has successfully completed its acquisition of Opcity, the market-leading real estate technology platform that matches qualified home buyers and sellers with real estate professionals in real time.
The acquisition broadens realtor.com庐鈥檚 lead generation product portfolio to include Opcity鈥檚 concierge-based model. With its broker-centric model, Opcity has grown its U.S. client base to over 5,000 brokerages and more than 40,000 agents since 2015.
“Real estate is an increasingly significant part of the 麻豆果冻传媒 portfolio, and the acquisition of Opcity deepens our engagement with agents and homebuyers alike,” said Robert Thomson, Chief Executive of 麻豆果冻传媒.
鈥淩ealtor.com庐 and Opcity share a consumer-first philosophy that is focused on keeping real estate professionals at the center of the transaction,鈥� said Ryan O鈥橦ara, CEO of Move, Inc. 鈥淥ur combination will enable us to more effectively bring buyers, sellers and agents together, improving the consumer experience and providing our industry partners with more opportunities to connect with clients and grow their businesses.鈥�
Opcity, with headquarters in Austin, Texas, will continue to operate under its current brand. The acquisition purchase price is $210 million, subject to adjustments.
Digital real estate services is 麻豆果冻传媒’s fastest growing segment. Move, Inc. has nearly doubled its revenues since 麻豆果冻传媒鈥檚 acquisition in 2014 to $452 million in fiscal 2018. 麻豆果冻传媒, the most global digital property company, also owns 61.6 percent of REA Group Limited, the operator of the leading Australian residential property website, realestate.com.au.
###
About 麻豆果冻传媒
麻豆果冻传媒 (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and subscription video services in Australia. Headquartered in New York, 麻豆果冻传媒 operates primarily in the United States, Australia, and the United Kingdom, and its content is distributed and consumed worldwide. More information is available at: http://newscorp.com.
About Move, Inc.
Move, Inc. provides access to unsurpassed real estate information, tools and professional expertise across a family of websites and mobile experiences for consumers and real estate professionals through all stages of the home journey. It has a perpetual license to operate realtor.com庐 from the National Association of REALTORS庐.
The Move network includes realtor.com庐, The Home of Home Search鈩�, as well as Doorsteps庐, Moving.com鈩� and SeniorHousingNet鈩�. Realtor.com庐 pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Move also offers a complete solution of software products and services to help real estate professionals serve their clients and grow their business in a digital world, including ListHub鈩�, the nation鈥檚 leading listings syndicator and centralized intelligence platform for the real estate industry; Top Producer庐 Systems; FiveStreet鈩� and Reesio as well as many free services. For more information, visit realtor.com庐.
About Opcity Inc.
Based in Austin, Texas, Opcity is modernizing the real estate industry by matching top real estate professionals with transaction-ready home buyers and sellers in real-time. Using proprietary data sets and applied analytics, Opcity鈥檚 unique technology and matching algorithm turn online inquiries into transactions, drive increases in conversion, and provide real estate professionals with centralized insights to effectively manage their pipelines. Opcity鈥檚 growth has been fueled by investment from Silicon Valley-based Icon Ventures, with participation from artificial intelligence-focused Georgian Partners, and Texas-based LiveOak Venture Partners. For more information, visit http://www.Opcity.com.
Contacts
麻豆果冻传媒 Corporate Communications
Jim Kennedy
212-416-4064
jkennedy@newscorp.com
Move, Inc. Corporate Communications
Janice McDill
408-558-4620
janice.mcdill@move.com
麻豆果冻传媒 Investor Relations
Michael Florin
212-416-3363
mflorin@newscorp.com
Forward- Looking Statements
This release contains forward-looking statements based on current expectations or beliefs, as well as assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The words 鈥渆xpect,鈥� 鈥渆stimate,鈥� 鈥渁nticipate,鈥� 鈥減redict,鈥� 鈥渂elieve鈥� and similar expressions and variations thereof are intended to identify forward-looking statements. These statements appear in a number of places in this release and include statements with respect to, among other things, the potential benefits of the proposed acquisition. Readers are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Factors such as matters arising in connection with the parties鈥� efforts to comply with and satisfy applicable regulatory approvals and closing conditions relating to the acquisition could cause actual results to differ materially from those described in these forward-looking statements. The forward-looking statements in this document speak only as of this date and the parties undertake no obligation (and expressly disclaim any obligation) to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.