CoStar Group acquired Business Immo (BIH) for EUR 5.8 million ($6.3 million), net of cash acquired and the assumption of outstanding debt, structured as Acquired Business Immo (BIH) (cash, net of debt assumed).
Business Immo (BIH) operates in International, is based in France. CoStar Group acquired Business Immo, France's leading commercial real estate news service, completing the deal in April 2022. Launched in 2004, Business Immo had grown into the country's premier online property news source, drawing more than 300,000 unique visitors a month, among them brokers, investors, developers and lenders. The addition strengthened CoStar's growing global news operation, which already spanned the United States, Canada, the United Kingdom and Germany, along with its Hotel News Now hospitality coverage.
Added a leading French commercial real estate news service to CoStar's international operations.
Advisory firms were not disclosed for this transaction.