New York-based Compass is acquiring rival Anywhere Real Estate in an all-stock transaction that will combine two of the nation’s largest real estate services, according to the Associated Press.
The deal will reportedly create a combined company with a total value of around $10 billion, including debt.
Compass’ platform is used by real estate agents in customer relationship management, marketing and other tasks, and the company operates its namesake brokerage along with Christie’s International Real Estate.
Anywhere Real Estate encompasses real estate brokerage brands such as Century 21, Better Homes and Gardens, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty.
The merger will increase Compass’ network of real estate agents around the world from around 40,000 to roughly 340,000, and the company expects to add over $1 billion in revenue from Anywhere’s escrow, title and other businesses.
