Stewart to Acquire PropStream for $175M
November 16, 2021
Stewart Information Services Corp. announced an agreement to acquire PropStream, which provides residential real estate data and analytics, for $175 million.
Founded 15 years ago, PropStream aggregates and standardizes property data, delivering value-added solutions to its customers through a single digital point of access.
“Through our agreement to acquire PropStream, we continue to demonstrate our commitment to creating a robust suite of digital, data and analytics products and services to better serve our customers,” said Fred Eppinger, Stewart’s chief executive officer. “PropStream offers an impressive residential real estate property data platform that gives customers the ability to generate insights and better target selling, investing and other business opportunities. PropStream’s analytical tools allow its customers to stay ahead of the market and are a great compliment to our capabilities, providing ease of use and digitization to the real estate transaction.”
The deal is expected to close Nov. 15. PropStream will continue operating as a standalone company.
“Our combination with the Stewart family will only serve to enhance our ability to stay at the forefront of providing data and analytics solutions,” said Rob Zahr, PropStream’s chief executive officer. “Stewart’s continued investment in new capabilities is one of the reasons why we feel Stewart is the right fit for PropStream and will enable us to continue to grow, while further strengthening core competencies, such as our social media interaction model. Through PropStream’s proprietary technology, we’re able to provide market leading tools to our customers and we’re excited about the future of our ability to do so as part of the Stewart family.”
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