Leveraging dmgi’s proven track record of growing companies in the property sector with our experienced team creates an opportunity to change the landscape of commercial real estate information.
Stamford, CT/Independence, MO (PRWEB) April 27, 2012
dmg :: information (dmgi) has agreed to partner with Xceligent, Inc.’s founder and management team to purchase the company from LoopNet and other investors. The transaction is pursuant to a Federal Trade Commission (FTC) consent order intended to create a national competitor to the merged CoStar Group and LoopNet entity. Xceligent is based in Independence, Missouri and has 210 employees.
Xceligent is one of only two multi-market providers of fully researched information and marketing tools to companies involved in buying, selling, leasing, developing or managing commercial real estate. The service is a comprehensive inventory of commercial properties, available space for lease or sale, tenants, sale comps, transaction histories, historical trends, demographic information and mapping tools. Currently, Xceligent operates in 30 markets. As a result of the transaction, dmgi will provide Xceligent necessary funding to complete its expansion covering the largest 65 United States markets within 36 months, and the remainder of the United States thereafter.
“We are excited to add Xceligent to our portfolio of companies focused on the property information sector,” said Suresh Kavan, dmgi’s CEO. “Our partnership allows Xceligent to rapidly expand their outstanding products and information into the largest US markets.”
Doug Curry, Xceligent’s founder and CEO commented: “When the CoStar- LoopNet merger was first announced, real estate companies across the country reached out to us to see if we could quickly match the footprint of the combined entity. With their vision of the commercial real estate sector as well as their experience in growing information companies and financial resources, it was evident dmgi was the ultimate partner for Xceligent and the industry. Leveraging dmgi’s proven track record of growing companies in the property sector with our experienced team creates an opportunity to change the landscape of commercial real estate information.”
The market for information on commercial real estate is both large and fragmented. As a consequence of this large opportunity, over the last several years, dmgi has acquired a number of property information companies including: Environmental Data Resources (EDR), Landmark (in the UK) and Trepp. dmgi also has strategic investments in Real Capital Analytics (RCA) and BUILDFax.
Kavan concludes: “Real estate is such an important asset class and we believe that Xceligent will be able to bring a level of transparency to commercial real estate that will benefit a number of stakeholders in the commercial property sector, including real estate agents, brokers, investors, owners, financial institutions, appraisers and government agencies.”
About dmg :: information
dmg :: information (dmgi) is a business division of DMGT that manages and develops a portfolio of high-growth, innovative companies that provide business-to-business information to the property, education, energy and commodity and structured finance markets. dmgi is headquartered in Stamford, CT
DMGT is an international group quoted on the London Stock Exchange. It operates in more than 40 countries, with a portfolio of businesses in media, information and digital markets that serve both business and consumer audiences.
Xceligent, Inc. is a leading provider of commercial real estate information services based in Independence, MO. Leveraging an efficient, research-focused model, Xceligent provides commercial real estate professionals with accurate and timely information on commercial real estate availabilities. Xceligent currently provides information services in 30 major U.S. metropolitan markets. Follow company news at http://news.xceligent.com/