Compass (COMP) has officially completed its acquisition of @properties from Quad-C Management in a deal valued at $150 million in cash and 44.1 million shares of its Class A common stock. This strategic move marks a significant expansion for Compass in the highly competitive real estate market.
The share consideration involved in the deal is subject to further adjustments, according to Compass’ regulatory filing. The company funded the acquisition using a combination of cash on hand and borrowings under a revolving credit facility, reinforcing its financial flexibility in making such strategic investments.
By acquiring @properties, Compass bolsters its position in the real estate sector, adding a strong brand and customer base to its expanding portfolio. The deal aligns with Compass’ ongoing efforts to scale its operations and capture more market share in the growing real estate technology space.
With this acquisition, Compass aims to leverage @properties’ expertise and customer reach, which will complement its own technological infrastructure and real estate services. As the company integrates @properties, it is expected to further strengthen its nationwide network and expand its service offerings to better compete with other industry players.
This acquisition is a pivotal step for Compass, highlighting its commitment to growth and enhancing shareholder value.
