CoStar to buy Zonda for $800M (Courtesy of the Jacksonville Business Journal) — Real estate tech giant CoStar Group Inc. has agreed to acquire Zonda, which provides home construction data and services, for $800 million, adding another component of the real estate market to its growing suite of data.
CoStar (NASDAQ: CSGP), which already owns Homes.com and Apartments.com, announced the all-cash deal Friday morning before the markets opened.
New York private equity firm MidOcean Partners created Zonda in 2018 when it bought D.C.-based Hanley Wood and Meyers Research. The venture was rebranded as Zonda in 2020.
Newport Beach, California-based Zonda has more than 3,000 residential builder, developer, supplier and lender customers through subscription-based services. Zonda operates NewHomeSource and Livabi, homebuilder platforms that provide floor plans, virtual tours and other details on new construction properties, and its has embraced AI throughout its offerings.