Atlanta-based RentPath Files Chapter 11, Agrees to be Bought by CoStar for $588M
Friday, February 14th, 2020
CoStar Group, Inc. (CSGP) said that it agreed to acquire RentPath's business for $588 million in cash, in connection with RentPath's recently announced Chapter 11 bankruptcy process.
RentPath's primary service is digital marketing for rental properties through a network of Internet listing websites, including Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com.
RentPath is headquartered in Atlanta, Georgia and has approximately 770 employees.
The closing of the transaction is subject to various conditions, including approval by the bankruptcy court and regulatory approval.