CoStar Group Intends To Buy STR For $450 Mln In Cash - Quick Facts

(RTTNews) - CoStar Group, Inc. (CSGP) the leading provider of commercial real estate information, analytics and online marketplaces, announced Tuesday that it plans to acquire STR for $450 million in cash, subject to adjustments in the definitive agreements. The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions.

STR is a global leader in benchmarking & analytics for the hospitality industry. STR aggregates data from over 65,000 hotels worldwide, representing nearly nine million guest rooms in over 180 countries.

The transaction will enable CoStar to provide comprehensive and precise data and analytics on the $3 trillion hotel commercial real estate asset class.

CoStar expects that STR will contribute between $3 million to $4 million in revenue in the fourth quarter of 2019, and to be slightly dilutive on an adjusted net income per share basis in the fourth quarter of 2019.