CoStar Group has announced that it has entered into a definitive agreement to acquire Zonda, a provider of new home construction data, homebuilder software, and residential real estate marketplaces, for $800 million in cash.
At the core of Zonda is a proprietary, lot-level database covering new home communities, land development activity, construction status, home sales, and builder operations. This data and the software built around it are embedded in builder workflows and are used to support underwriting, land strategy, capital allocation, development planning, forecasting, and sales operations across the industry.
The acquisition will also pair Zonda’s Envision visualisation and digital merchandising capabilities with Matterport‘s spatial technology. Together, they aim to create digital experiences for builders and consumers and improve how new construction homes are marketed, visualised, and discovered online.
Andy Florance, Founder and Chief Executive Officer of CoStar Group, said, “This acquisition extends CoStar Group’s leadership into a major new segment of the real estate industry and strengthens our ability to provide clients with comprehensive information solutions across every major real estate segment. We believe the combination will deliver deeper insights, workflow efficiencies, and analytics to the homebuilding industry, while strengthening our core information offerings and significantly expanding our new home marketplace capabilities.”
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