Classified Ventures, LLC ("CV"), a leading provider of digital marketing solutions in the automotive and rentals category, announced that the sale of its Apartments.com business to CoStar Group, Inc. ("CoStar"), has closed effective April 1, 2014.
The close of sale follows a March 3, 2014 announcement that the company had entered into an agreement to sell its Apartments.com business for $585 million in cash to CoStar, a leading provider of commercial real estate research and information services.
CV CEO Dan Jauernig shared: "We are pleased with how smoothly the overall transaction process has gone, and wish Apartments.com and CoStar great success in the future."
This transaction will not impact CV's Cars.com business.
Source: Classified Ventures, LLC