Zillow sells market leader at loss
Zillow has sold Market Leader to the Perseus Division of Constellation Software, Inc., an international provider of market-leading software and services.
The deal was completed for a total of $23 million, $330 million lower than the price paid by Trualia.
"Market Leader provides the real estate industry's leading customer relationship management system and is an important tool for tens of thousands of agents and brokers," says Kathleen Philips, Zillow Group chief financial officer.
"Since we closed our acquisition of Trulia, we've been assessing how Market Leader would fit with our broader business strategy, and we felt that Market Leader's customers and employees would be best served by a company with deep roots in delivering enterprise software, and by a company for whom Market Leader would be a core offering.
"We will continue to partner with Market Leader through Zillow Tech Connect, which sends Premier Agents' leads into any CRM of their choosing."