This is just another acquisition under CoStar’s umbrella of purchased companies within the last two years, making it a forerunner in the commercial real estate sector. Now, with Emporis, its database of 700,000 buildings in 100 companies will be another notch in CoStar’s belt.
The acquisitions aren’t the only things that are working in CoStar’s favor. Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group, explained:
“Our business delivered outstanding results in the third quarter, clearly demonstrating the mission-critical nature of our information products and the strong countercyclical performance of our marketplaces. We delivered $53 million of company-wide net new sales bookings in the third quarter of 2020 with LoopNet reaching an all-time high sales quarter, increasing sales over 130% from the third quarter of 2019.”
Whereas other companies struggled during this past year, CoStar has seen its third consecutive quarter of growth.
With the addition of Emporis, CoStar will gain valuable research content for various European markets and beyond, which it will integrate into the CoStar Suite international platform.