New York City-headquartered Compass Inc. (NYSE: COMP) announced the closing of its $1.6 billion acquisition of Anywhere Real Estate Inc. in an all-stock transaction.
Madison, New Jersey-based Anywhere, formerly known as Realogy, is the parent company of the brands Century 21, Coldwell Banker, Corcoran, and Sotheby’s International Realty. The transaction, which was announced in September, will have an enterprise value of about $10 billion, with a global workforce of 340,000 operating in every major US city and approximately 120 countries and territories.
“Our collective vision is to become the best in the world at empowering real estate professionals with everything they need to realize their entrepreneurial potential,” said Compass Chairman and CEO Robert Reffkin. “What makes this moment unique is not a transaction that combines two companies – it’s that the industry’s most respected brands and professionals are coming together on a single, modern technology platform that will help them save time, grow their business, and better serve their clients.”
