WASHINGTON, DC⁠—CoStar Group has announced that it is acquiring Ten-X for $190 million in cash.

When the acquisition is complete, CoStar will have an end-to-end real estate platform that combines LoopNet and CoStar’s online audience of buyers with Ten-X’s online auctions for both performing and distressed assets, said CoStar Group CEO Andrew Florance in prepared remarks. “In the aftermath of the economic disruption which is being caused by the global pandemic, we believe that the volume of distressed properties coming to market will surge and that this combined platform will support the market’s recovery,” he added.

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Erika Morphy

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