SEATTLE—Zillow Inc. has entered into a definitive agreement to acquire Trulia Inc. for $3.5 billion in a stock-for-stock transaction. The boards of both companies have approved the transaction, which is expected to close in 2015.

The combined company will maintain both the Zillow and Trulia consumer brands, offering buyers, sellers, homeowners and renters access to vital information about homes and real estate for free, and providing advertising and software solutions that help real estate professionals grow their business. At closing, Trulia CEO Pete Flint will remain as CEO of Trulia reporting to Zillow CEO, Spencer Rascoff, and will join the board of the combined company.

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