SAN JOSE, Calif., Oct. 1, 2015 /PRNewswire/ -- Move, Inc., a subsidiary of News Corp [NASDAQ: NWS], [NASDAQ: NWSA]; [ASX: NWS], [ASX: NWSLV] and operator of realtor.com®, a leading online destination for real estate services, announced today it has acquired Reesio, a San Francisco-based document and transaction management platform that allows real estate professionals to simplify the process for home buyers and sellers by bringing the entire transaction online. Terms of the transaction were not disclosed.
Reesio provides brokers and agents with a platform to collaborate and communicate with home buyers and sellers, mortgage professionals, title and escrow companies, inspectors and other service providers, making the transaction process transparent and speeding communication to relevant parties. Reesio's secure online platform allows collaborators to share, edit, sign and store transaction documents such as offer letters, inspection reports, and loan information in one place, and helps brokers and agents to reduce transaction errors and risk by allowing workflow templates to guide the steps and requirements for closing.
As part of Move's commitment to provide the most stringent data protection in the industry and uphold the highest standards for information and document security, Move has changed Reesio's terms of service to align with its belief in the privacy of brokers' and agents' transaction information.
"Reesio is a perfect fit for Move, allowing us to provide industry partners, brokers and agents an end-to-end software solution for managing their business through all phases of the real estate transaction and simplifying what can be a lengthy and complicated process for home buyers and sellers," said Move CEO Ryan O'Hara. "Reesio was built by real estate professionals for real estate professionals. Partners wanted the benefit of Top Producer CRM integrated with transaction management software. This acquisition reinforces our commitment to empower people by making all things real estate simple, efficient and enjoyable."
The acquisition strengthens Move's suite of professional software and responds to brokers and agents request for an end-to-end solution to help them increase productivity and manage their business. It offers an attractive user interface and solid platform from which to build an innovative digital workplace in a way that meets the needs of today's home buyers and sellers. Move is now positioned to soon offer a complete and seamless experience for brokers and agents with the integration of Reesio into Move's suite of professional software products.
Reesio's four founding partners, who bring a combination of real estate brokerage and technology experience, will join Move.
"We are excited to be joining Move and realtor.com®," said Mark Thomas, co-founder and CEO of Reesio. "This transaction provides us with the resources necessary to continue to build on the platform we've created. Move's deep commitment to the professional software side of the business and the real estate industry, generally, aligns with our vision of creating an all-in-one technology platform for brokers and agents. By joining forces, we can ensure that real estate professionals have the tools they need to connect with consumers through every stage of the transaction process. We think our offering is a better alternative for the industry, brokers and agents than our competitors."
About Move, Inc. and realtor.com®
Move, Inc., operates the realtor.com® website and mobile experiences, which provide buyers, sellers and renters of homes with the information, tools and professional expertise they need to discover and create their perfect home. News Corp [NASDAQ: NWS], [NASDAQ: NWSA]; [ASX: NWS], [ASX: NWSLV] acquired Move in November 2014, and realtor.com® quickly established itself as the fastest growing online real estate service provider in the first half of 2015 as measured by comScore.
As the official website of the National Association of REALTORS®, consumers know they can look to realtor.com® for the most comprehensive and accurate information anytime, anywhere. With relationships with more than 800 multiple listing services (MLS), realtor.com® has more than 3 million for-sale listings, which account for more than 97 percent of all MLS-listed for-sale properties. More than 90 percent of the listings are updated every 15 minutes. Move's network of websites provides consumers a wealth of innovative tools, including Doorsteps®, Moving.com™, SeniorHousingNetSM and others. Move supports real estate professionals by providing many services to grow their businesses in an increasing digital, on-demand world, including ListHub™, the nation's leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; FiveStreetSM and Reesio as well as many free services.
This document contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ materially from these expectations due to changes in global economic, business, competitive market and regulatory and other factors. More detailed information about these and other factors that could affect future results is contained in News Corp's filings with the Securities and Exchange Commission. The "forward-looking statements" included in this document are made only as of the date of this document and we do not have any obligation to publicly update any "forward-looking statements" to reflect subsequent events or circumstances, except as required by law.
Media Contact: Christie Farrell, [email protected], (408) 558-7115.
SOURCE Move, Inc.