CoStar Group (NASDAQ: CSGP), a provider of online real estate marketplaces, information, and analytics in the property markets, has completed its acquisition of the lease administration and accounting platform Visual Lease.
Founded in 1996, Visual Lease is a software platform for integrated lease management, accounting, and reporting that is used by over 1,500 organizations across the business services, construction, healthcare, manufacturing, and retail sectors. The companies said the acquisition is designed to CoStar Group’s Real Estate Manager business line and provide additional lease management and lease accounting value.
The financial aspects of the acquisition were not made public.
“By combining CoStar Group’s industry expertise with Visual Lease’s diverse customer base, deep lease portfolio management expertise, and leading sustainability solutions, we are well positioned to offer a more comprehensive service offering and continue growing both nationally and internationally,” said CoStar Group CEO Andy Florance. “I am excited to work with the talented team at Visual Lease to accelerate our growth, expand our offerings, and further enhance how we serve our customers. CoStar Group is always focused on innovation and sourcing ideas and solutions from the best in the industry. Welcoming Visual Lease to CoStar Group is a significant milestone in our journey, opening new opportunities for both our clients and employees moving forward.”
Photo courtesy of Visual Lease
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