CAMPBELL, Calif., Sept. 21 /PRNewswire-FirstCall/ -- Move, Inc.
(Nasdaq: MOVE), the leader in online real estate, today announced
the acquisition of Threewide Corp., operator of ListHub, the
nation's largest online real estate listing syndicator and provider
of advanced performance reporting solutions for brokers, real
estate franchises, multiple listing services (MLSs) and real estate
web sites. ListHub products and services include syndication of 2.4
million property listings from 270+ MLSs and 38,000 brokers to more
than 70 real estate marketing web sites, as well as streamlined
data management and reporting analysis used to monitor online
listing performance.
With the addition of the ListHub brand, Move will deliver even
greater value to MLSs, brokers and real estate web sites as a
single trusted source for national online listing syndication and
reporting services empowering real estate professionals to reach
more consumers while efficiently managing their online marketing
strategy from one standardized dashboard.
"Online real estate today can be a fragmented experience for
consumers and real estate professionals, and the related content is
often inaccurate," said Move, Inc., Chief Executive Officer,
Steve Berkowitz. "By acquiring
Threewide and elevating the ListHub brand to a primary product
offering at Move, we'll combine Move's core competencies of listing
aggregation, relationship management and the delivery of effective
marketing services with ListHub's leadership in national
syndication and market intelligence. Through our combined
strengths, we'll successfully aggregate and connect vast amounts of
data from a variety of sources, ensure the data remains accurate
and fresh, and standardize the market reports real estate
professionals rely on to guide their online marketing efforts and
demonstrate value to clients. We believe this will soon result in a
considerable improvement in the overall experience for both
consumers and real estate professionals, regardless of where a
property listing is displayed."
Together, Move and ListHub will consult and work with key
constituents in the real estate industry to demonstrate how its
newly combined products and services can help MLSs, franchises, and
brokers increase their online marketing effectiveness, safeguard
the use of listing data, and reach more potential buyers and
sellers efficiently through the national ListHub syndication
network.
"We are very excited to become a part of the Move Network and we
look forward to bringing even more value to our partners and
customers going forward with the support of Move," said ListHub
President, Luke Glass. "Our vision
for the ListHub product remains to provide real estate brokers and
agents with a single, neutral platform that gives them control and
transparency in the online marketing of their listings. ListHub is
committed to growing the value of the ListHub network, continuing
to bring together content providers and publishers, while
supporting their ability to engage with one another with ease and
confidence."
With this acquisition, Threewide becomes a wholly-owned
subsidiary of Move Sales, Inc., a subsidiary of Move, Inc., and
ListHub will join Move's other industry-leading
business-to-business brand solutions used by real estate
professionals to market client listings and their brands to buyers
and sellers. ListHub products, services and the management team of
professionals will remain with the ListHub brand, now backed by
Move.
Move completed the transaction on Monday,
September 20, 2010, for total consideration of $13 million cash. The acquisition is expected to
be dilutive to GAAP EPS by approximately $0.01 to $0.02 in 2011 and non-dilutive to
adjusted EBITDA (earnings from continuing operations before
interest, taxes, stock-based compensation and charges,
depreciation, amortization and other non-recurring charges).
ABOUT THREEWIDE CORP. AND LISTHUB
Threewide Corporation was founded in July of 1999 and has
specialized in solving data management issues in the real estate
vertical since its inception. In mid-2000, the company began to
focus on the digital capture, packaging, and transport of data for
brokerages, Multiple Listing Services, and other industry vendors.
In 2007, Threewide launched ListHub, the nation's first listing
asset management system for brokers. ListHub syndicates MLS listing
information from the MLS or other reliable data sources to an array
of online marketing sites and provides the brokerage with reporting
and analysis of online advertising results. For more information
about Threewide Corporation and ListHub, visit www.listhub.com.
ABOUT MOVE, INC.
Move, Inc. (Nasdaq: MOVE) is the leader in online real estate
with 12.7 million(1) monthly visitors to its online network of
websites. Move, Inc. operates: Move.com, a leading destination for
information on new homes and rental listings, moving, home and
garden and home finance; REALTOR.com® the official website of the
National Association of REALTORS(R); Moving.com; SeniorHousingNet;
and TOP PRODUCER Systems. Move, Inc. is based in Campbell, California.
This press release may contain forward-looking statements,
including information about management's view of Move's future
expectations, plans and prospects, within the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. These statements involve known and unknown risks,
uncertainties and other factors which may cause the results of
Move, its subsidiaries, divisions and concepts to be materially
different than those expressed or implied in such statements. These
risk factors and others are included from time to time in documents
Move files with the Securities and Exchange Commission, including
but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other
unknown or unpredictable factors also could have material adverse
effects on Move's future results. The forward-looking statements
included in this press release are made only as of the date hereof.
Move cannot guarantee future results, levels of activity,
performance or achievements. Accordingly, you should not place
undue reliance on these forward-looking statements. Finally, Move
expressly disclaims any intent or obligation to update any
forward-looking statements to reflect subsequent events or
circumstances.
(1) comScore Media Metrix, August
2010
SOURCE Move, Inc.
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