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Mortgage lender Rocket Companies buys real estate site Redfin for $1.75 billion in stock.
Mortgage lender Rocket Companies is acquiring online real estate brokerage Redfin in a $1.75 billion all-stock deal.
The acquisition will give Rocket access to Redfin’s network of over 2,000 agents across 42 states and its popular home listings platform with nearly 50 million monthly visitors.
Rocket expects to save $140 million in costs and boost revenue by over $60 million through this integration.
The deal, approved by both boards, is expected to close by the third quarter.
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El prestamista hipotecario Rocket Companies compra el sitio inmobiliario Redfin por 1.750 millones de dólares en acciones.