Zillow to sell real estate CRM unit to Constellation for $23 mln

U.S.-based Zillow Group (NASDAQ: Z & ZG) has agreed to sell its real estate-focused customer relationship management (CRM) division, Market Leader, to an affiliate of Constellation Software Inc (TSX: CSU). The deal, which is valued at US$23 million, is expected to close in the fourth quarter. Headquartered in Toronto, Constellation acquires, manages and builds vertical market software businesses. Publicly listed in 2006, it remains a portfolio investment of OMERS Private Equity.

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