Business & Tech
$350 Million: Kirkland Software Firm Market Leader Bought by Website Trulia
Based in the Totem Lake area, Market Leader makes subscription-based marketing software for real estate agents. Trulia is a searchable website that features local real estate listings.
The San Francisco-based real estate website Trulia is purchasing the Kirkland marketing software company Market Leader Inc. in a deal worth about $355 million.
Based in the Totem Lake area, Market Leader makes subscription marketing software that helps real estate agents find leads through social media and websites.
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Market Leader shareholders will get $6 cash and 0.1553 shares of Trulia’s common stock for each share they own.
“Market Leader has great products for agents, brokerage companies, and franchise organizations and is an excellent strategic fit for Trulia,” Trulia CEO Pete Flint, said in a press release. “Marrying our 31 million -- and increasing -- monthly unique visitors with Market Leader’s robust offerings and extensive partnerships with leading real estate franchisers and brokerages creates a company that will play an even more integral role driving value to the real estate industry.”
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Flint said Market Leader’s revenue stream grew approximately 32 percent in 2012, the second consecutive year of growth of over 30 percent.
The press release was posted on businesswire.com; read all of it by clicking here.
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