Coldwell Banker acquires Favista.com
Global real estate consultant Coldwell Banker India, master franchise of NYSE-listed Realogy Holdings Corporation, has acquired technology-based property brokerage Favista.com in an all-stock deal. As part of the acquisition, all of Favista’s assets, IP, and employees will become part of Coldwell Banker India as of the closing date. Favista’s brokerage arm will also be absorbed by Coldwell Banker India. Favista.com will continue to function as a standalone portal providing marketing and lead generation services to developers and Coldwell Banker’s current and future franchise network. Investing in technology is a strategic goal of Coldwell Banker India and fits in line with our goal of providing a world class brand, training and technology to our franchisees and agents. We believe that this acquisition will help our franchisees and agents reduce their overall lead costs and enable a significantly larger volume of transactions. Favista’s technology and focus on reducing online lead generation costs fits in that strategy,” said Ramnik Chopra, managing director, Coldwell Banker.
Tags : News/Views