Realtor.com operator Move Inc. has sold lead-generation company TigerLeads to customer relationship management (CRM) system provider Commissions Inc.
Terms of the deal were not disclosed.
“Commissions Inc. is a leader in its space and Move determined Commissions Inc. would best serve the TigerLead customer base,” said Move Inc. spokeswoman Janice McDill about the deal.
“Move will focus its attention and resources on its realtor.com products, and the evolution of our professional software businesses, including: Top Producer, Market Snapshot, FiveStreet, ListHub and Reesio.”
The transition of TigerLead to Commissions Inc. is “planned to be seamless and imperceptible to TigerLead customers,” she added.
The deal is the latest in a string of real estate software acquisitions. Industry juggernauts, such as Zillow Group, Move and Constellation Web Solutions, are harvesting and trading companies in a chess match to build the best end-to-end business offerings for real estate agents.
The acquisition comes shortly after Commissions Inc. itself was reportedly acquired for around $250 million by Fidelity National Financial Inc.
Move bought TigerLead Solutions for $22 million in 2012.
By adding an agent-branded website and search solution that “richly complements the leads generated by realtor.com, this acquisition further enables Move to deliver the best suite of solutions to both consumers and real estate professionals,” Move CEO Steve Berkowitz said at the time.
The sale trims Move’s portfolio of real estate software services to ListHub, CRM Top Producer, lead-management software FiveStreetSM, Market Snapshot and Reesio, transaction software that Move purchased in October 2015. These services complement or directly integrate with Move’s listing portal, realtor.com.
Commission Inc. is the “the fastest-growing provider” of CRM, lead generation and lead-management software for agents and teams, Fidelity said in a July announcement of its planned acquisition of Commissions Inc.
At the time, Commissions Inc. had 1,500 customers who collectively had closed more than 170,000 residential real estate transactions over the previous 12 months, according to Fidelity.
“Commissions Inc. recognizes that the TigerLead customer base is amongst the best agents/teams in the country and will continue to invest in their future success,” McDill said.
Editor’s note: This story has been updated with comments from Move Inc.
