CoStar Group acquired Ten-X Holding Company, Inc. for $190 million in cash (aggregate purchase price, subject to adjustments), a transaction completed in June 2020, structured as all cash (merger).
Ten-X Holding Company, Inc. operates in Commercial real estate marketplaces / online auctions. CoStar Realty Information acquired Ten-X, an online commercial real estate auction and transaction platform, through the merger of Crescendo Sub into Ten-X, with Ten-X surviving as a wholly owned subsidiary. The equityholders of Ten-X, including funds managed by Thomas H. Lee Partners, received an aggregate $190 million in cash.
Add an online commercial real estate auction and transaction capability to CoStar's marketplace and information platform.
Advisory firms were not disclosed for this transaction.