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LoopNet Acquires Reaction Web, a Leader in Custom Web Site and Marketing Solutions for the Commercial Real Estate Industry
-- Acquisition Enables LoopNet to Deliver and Expand Support Throughout Entire Property Marketing Lifecycle --
SAN FRANCISCO, March 31 -- LoopNet, Inc. (NASDAQ: LOOP), which operates the largest online commercial real estate marketplace, today announced the acquisition of Reaction Web, a leading online solutions company focused in the commercial real estate industry. Reaction Web brings state-of-the-art custom web sites, deal rooms and private property marketing tools to the robust suite of LoopNet solutions.
Reaction Web develops client focused, custom web sites that allow brokerage firms and brokerage teams to market listings to potential investors and enhance the sales process. The web sites are customized and tailored to each client's individual brand. Advanced transaction management tools enable brokers to automate core steps such as registration, investor approval, execution of confidentiality agreements, response tracking, and the creation of due diligence war rooms. Automated lead tracking services allow brokers to monitor each investor's level of interest based on total visits to a property listing, specific page views, and information downloads.
The company has provided online services for some of the nation's best known commercial brokerages and practice groups including the CB Richard Ellis Private Client Group, Apartment Realty Advisors, Grubb & Ellis Private and Institutional Capital Markets groups, Colliers International, Cushman Wakefield and Madison Partners of Los Angeles.
"We are very excited to welcome the Reaction Web team and solutions to LoopNet. Reaction Web has developed an exceptional reputation for delivering state-of-the-art, custom solutions to their clients and they embrace a 'Put Clients First' approach that is a core philosophy of LoopNet," said Thomas Byrne, President and COO of LoopNet. "Adding the Reaction Web product suite to our solutions enables us to further support our clients throughout the entire commercial property marketing lifecycle. We look forward to integrating the Reaction Web services into the LoopNet solutions suite and deliver even greater value to our clients."
"This acquisition will allow us to provide our clients with the best solutions and services in the industry for their commercial real estate marketing programs," explained Mike Mockus, General Manager of Reaction Web. "As a division of LoopNet, we can now leverage their advanced technical resources and extensive marketing expertise to develop more robust next-generation solutions, enabling our clients to enhance their marketing initiatives and reach an even broader audience."
Reaction Web will continue to be managed by its founders Mike Mockus and Paul Dynan, with the entire Reaction Web team remaining intact.
Terms of the transaction were not disclosed. LoopNet does not currently expect the acquisition of Reaction Web to have a material impact on its 2010 financial results.
About LoopNet
LoopNet operates the largest and most heavily trafficked commercial real estate listing service online with more than 4 million registered members and approximately 5 million unique visitors quarterly as reported by Google Analytics.
The LoopNet marketplace, available at http://www.loopnet.com/, covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, investment properties and businesses for sale. At year end 2009, the LoopNet marketplace featured more than $460 billion of property available for sale and 6.5 billion square feet of space for lease.
LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Cassidy Turley, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Lincoln Property Company, Marcus & Millichap, NAI Global, ProLogis, RE/MAX, and Sperry Van Ness.
About Reaction Web
Reaction Web is a leading online marketing firm specializing in the commercial real estate industry. The company offers custom web design, email marketing, online property deal rooms and advanced investor tracking solutions for commercial brokers, developers, owners and real estate investment firms with the prospective buyer/investor in mind. For detailed information on Reaction Web's services, visit http://www.reactionweb.com or call Mike Mockus at 303.841.2335.
Forward-Looking Statements
This release contains forward-looking statements regarding the benefits of Reaction Web's products and services to our customers, LoopNet's online commercial marketplace, our customers, the continuing adoption of the Internet to market and search for commercial real estate and the value we provide to our members. These statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to, our ability to successfully integrate our acquired businesses, economic events or trends in the commercial real estate market or in general, our ability to continue to attract unique visitors to our web site, our ability to continue to attract new registered members, convert them into Premium Members and retain such Premium Members, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, competition from current or future companies, our ability to receive timely and accurate sales data from our partners, seasonality, our ability to manage our growth and our ability to introduce new or upgraded products or services and customer acceptance of such services. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in our filings with the Securities and Exchange Commission (SEC). Copies of filings made by us with the SEC are available on the SEC's web site or at http://investor.loopnet.com/sec.cfm. LoopNet does not intend to update the forward-looking statements included in this press release that are based on information available to us as of the date of this release.
Contact Information:
Marlena DeFalco
(303) 682-3943
marlena@linnelltaylor.com
Source: LoopNet, Inc.
CONTACT: Marlena DeFalco, +1-303-682-3943, marlena@linnelltaylor.com
Web Site: http://www.loopnet.com/
http://www.reactionweb.com/
LoopNet Acquires Reaction Web, a Leader in Custom Web Site and Marketing Solutions for the Commercial Real Estate Industry
-- Acquisition Enables LoopNet to Deliver and Expand Support Throughout Entire Property Marketing Lifecycle --
SAN FRANCISCO, March 31 -- LoopNet, Inc. (NASDAQ: LOOP), which operates the largest online commercial real estate marketplace, today announced the acquisition of Reaction Web, a leading online solutions company focused in the commercial real estate industry. Reaction Web brings state-of-the-art custom web sites, deal rooms and private property marketing tools to the robust suite of LoopNet solutions.
Reaction Web develops client focused, custom web sites that allow brokerage firms and brokerage teams to market listings to potential investors and enhance the sales process. The web sites are customized and tailored to each client's individual brand. Advanced transaction management tools enable brokers to automate core steps such as registration, investor approval, execution of confidentiality agreements, response tracking, and the creation of due diligence war rooms. Automated lead tracking services allow brokers to monitor each investor's level of interest based on total visits to a property listing, specific page views, and information downloads.
The company has provided online services for some of the nation's best known commercial brokerages and practice groups including the CB Richard Ellis Private Client Group, Apartment Realty Advisors, Grubb & Ellis Private and Institutional Capital Markets groups, Colliers International, Cushman Wakefield and Madison Partners of Los Angeles.
"We are very excited to welcome the Reaction Web team and solutions to LoopNet. Reaction Web has developed an exceptional reputation for delivering state-of-the-art, custom solutions to their clients and they embrace a 'Put Clients First' approach that is a core philosophy of LoopNet," said Thomas Byrne, President and COO of LoopNet. "Adding the Reaction Web product suite to our solutions enables us to further support our clients throughout the entire commercial property marketing lifecycle. We look forward to integrating the Reaction Web services into the LoopNet solutions suite and deliver even greater value to our clients."
"This acquisition will allow us to provide our clients with the best solutions and services in the industry for their commercial real estate marketing programs," explained Mike Mockus, General Manager of Reaction Web. "As a division of LoopNet, we can now leverage their advanced technical resources and extensive marketing expertise to develop more robust next-generation solutions, enabling our clients to enhance their marketing initiatives and reach an even broader audience."
Reaction Web will continue to be managed by its founders Mike Mockus and Paul Dynan, with the entire Reaction Web team remaining intact.
Terms of the transaction were not disclosed. LoopNet does not currently expect the acquisition of Reaction Web to have a material impact on its 2010 financial results.
About LoopNet
LoopNet operates the largest and most heavily trafficked commercial real estate listing service online with more than 4 million registered members and approximately 5 million unique visitors quarterly as reported by Google Analytics.
The LoopNet marketplace, available at http://www.loopnet.com/, covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, investment properties and businesses for sale. At year end 2009, the LoopNet marketplace featured more than $460 billion of property available for sale and 6.5 billion square feet of space for lease.
LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Cassidy Turley, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Lincoln Property Company, Marcus & Millichap, NAI Global, ProLogis, RE/MAX, and Sperry Van Ness.
About Reaction Web
Reaction Web is a leading online marketing firm specializing in the commercial real estate industry. The company offers custom web design, email marketing, online property deal rooms and advanced investor tracking solutions for commercial brokers, developers, owners and real estate investment firms with the prospective buyer/investor in mind. For detailed information on Reaction Web's services, visit http://www.reactionweb.com or call Mike Mockus at 303.841.2335.
Forward-Looking Statements
This release contains forward-looking statements regarding the benefits of Reaction Web's products and services to our customers, LoopNet's online commercial marketplace, our customers, the continuing adoption of the Internet to market and search for commercial real estate and the value we provide to our members. These statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to, our ability to successfully integrate our acquired businesses, economic events or trends in the commercial real estate market or in general, our ability to continue to attract unique visitors to our web site, our ability to continue to attract new registered members, convert them into Premium Members and retain such Premium Members, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, competition from current or future companies, our ability to receive timely and accurate sales data from our partners, seasonality, our ability to manage our growth and our ability to introduce new or upgraded products or services and customer acceptance of such services. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in our filings with the Securities and Exchange Commission (SEC). Copies of filings made by us with the SEC are available on the SEC's web site or at http://investor.loopnet.com/sec.cfm. LoopNet does not intend to update the forward-looking statements included in this press release that are based on information available to us as of the date of this release.
Contact Information:
Marlena DeFalco
(303) 682-3943
marlena@linnelltaylor.com
Source: LoopNet, Inc.
CONTACT: Marlena DeFalco, +1-303-682-3943, marlena@linnelltaylor.com
Web Site: http://www.loopnet.com/
http://www.reactionweb.com/