Trulia to Be Acquired by Zillow for $3.5 Billion
Leading online and mobile real estate information companies Zillow and Trulia announced on July 28, 2014, that they will join forces, with Zillow entering into a definitive agreement to buy firm client Trulia for $3.5 billion in a stock-for-stock transaction. The companies' boards of directors have approved the transaction, which is expected to close in 2015.
The combined company, which will maintain both the Zillow and Trulia brands, will continue to offer consumers free access to information about the real estate market and generate the majority of its revenue through advertising sales to real estate professionals. In Zillow's press release, the company stated that expected benefits of the deal will include faster innovation, greater access to free real estate market data, broader distribution, enhanced value and ROI for advertisers, and increased overall operational efficiency and cost savings.
Please click here to read Zillow's press release on the transaction.