Real estate tech platform Opcity will benefit global offer
News Corp has announced that its subsidiary Move, Inc., has agreed to acquire Opcity, the real estate technology platform that matches buyers and sellers with real estate professionals.
The deal will enable Move, which operates realtor.com, to enhance its offering to consumers and to provide greater lead generation opportunities to real estate agents and brokers.
News Corp is also the majority shareholder of Australia’s REA Group Ltd, which operates that country’s leading real estate site.
“Through product innovation and powerful media platforms, News Corp is increasing its presence and capabilities in the burgeoning digital real estate services market,” said Robert Thomson, Chief Executive of News Corp. “We are absolutely focused on providing high quality services to real estate professionals and to consumers seeking to make an investment that is profoundly important to every family.”
The acquisition will cost News Corp $210 million, subject to adjustments.
Machine learning leads to leads
Opcity’s capabilities utilizes machine learning and analytics to capture leads and deliver them to real estate agents. It means transaction-ready clients are matched with the right agents.
It is used by more than 5,000 brokerages and 40,000 agents including major players ReMax, Century 21, and Berkshire Hathaway, and leading independents.
“This is a natural fit. Both realtor.com® and Opcity share a common purpose of simplifying a consumer’s home buying journey, while helping real estate professionals connect and close more transactions,” said Ben Rubenstein, CEO of Opcity. “Together, we'll provide an enhanced consumer experience and more choices for brokers and their agents to grow their business.”
