LoopNet Acquires LandsofAmerica

SAN FRANCISCO-Locally based LoopNet Inc. has acquired LandsofAmerica, the operator of the largest and most heavily trafficked online marketplace specializing in land for sale at LandsofAmerica.com. Austin, TX-based LandsofAmerica’s entire management team, including its founders Allen Shannon and Jake Massengale, will remain with LoopNet to manage and grow the business.

LandsofAmerica.com generated almost 600,000 unique visitors to its websites in August 2010, according to Google Analytics, and will contribute a significant lift to LoopNet’s overall website traffic of approximately two million unique visitors, also measured by Google Analytics. In addition, LandsofAmerica.com substantially expands LoopNet’s overall share of active land for sale listings, according to a prepared statement. Combined, LoopNet-owned websites now feature more than 200,000 active land listings for sale across LoopNet.com, LandsofAmerica.com and LandAndFarm.com.

“We are very excited about the opportunity to incorporate the LandsofAmerica team and service offerings into the LoopNet suite of marketplace solutions,” says Thomas Byrne, LoopNet president and COO. “With this acquisition, LoopNet is significantly expanding its leadership position within the land sector, which includes commercial land, agricultural and farm land, ranch land, hunting land and rural land.” He adds that “Combined with our existing land presence on LoopNet.com and LandandFarm.com, LoopNet is the unparalleled online marketplace leader in terms of traffic within the overall land for sale sector.”

Jake Massengale, founder and CEO of LandsofAmerica, says that “We consider it both a pleasure and a privilege to join the LoopNet team and look forward to working together to grow our marketplace leadership position within the land sector. LoopNet and LandsofAmerica share many similarities, including our exclusive partnership network and search engine expertise.  We look forward to identifying opportunities to share and leverage our respective strengths.”

Terms of the transaction were not disclosed.  LoopNet does not currently expect the acquisition to have a material impact on its 2010 financial results.

“It is exciting to have the opportunity to work hand in hand with LoopNet to expand our presence and offerings within the land sector,” says Allen Shannon, founder and president of LandsofAmerica. “LoopNet has proven to be an exceptional client-focused organization that aligns well with our philosophy. LoopNet is clearly the preeminent marketing solution for the commercial real estate and business for sale sectors, and we believe together we can create the same presence within the land sector.”