CoStar Group Receives Antitrust Clearance From the Federal Trade Commission for the Acquisition of ForRent and Expects to Close Next Week
CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced today that it has received antitrust clearance from the Federal Trade Commission regarding its previously announced proposed acquisition of ForRent.com from Dominion Enterprises.
“We are looking forward to closing the ForRent acquisition, welcoming the ForRent team and adding to our leadership position in the multifamily industry,“ said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group.
The transaction is expected to close sometime next week and is expected to be discussed on the Company’s conference call to discuss Financial Results for the Fourth Quarter and year-end 2017 at 11:00 AM EST on Thursday, February 22, 2018.
To participate in the conference call, please dial (800) 230-1074 (from the United States and Canada) or (612) 234-9959 (from all other countries) and refer to conference code 444420. To listen to the conference call over the Internet, please access the audio webcast link available in the Investors section of CoStar Group's website at http://www.costargroup.com/investors/stock-info.
An audio recording of the conference call will be available for replay approximately one hour after the call's completion and will remain available for a period of time following the call. To access the recorded conference call, please dial (800) 475-6701 (from the U.S. and Canada) or (320) 365-3844 (from all other countries) using access code 444420. The webcast replay will also be available in the Investors section of CoStar Group's website for a period of time following the call.
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About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with over 5 million unique monthly visitors. Apartments.com, Apartment Finder.com, ApartmentHomeLiving.com, Westside Rentals and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of approximately 37 million unique monthly visitors in aggregate in the third quarter of 2017. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,600 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.
ALL Contacts
Richard Simonelli
Vice President
Investor Relations
(202) 346-6394
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar Group's financial expectations, the Company's plans, objectives, expectations and intentions and other statements including words such as “hope,” "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar Group and are subject to significant risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements. The following factors, among others, could cause or contribute to such differences: the risk that the acquisition of ForRent does not close when expected or at all. Additional factors that could cause results to differ materially from those anticipated in the forward-looking statements can be found in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2016, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, and the Company’s other filings with the SEC available at the SEC’s website (www.sec.gov). CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
