LoopNet, Inc. (LOOP), an operator of online commercial real estate marketplace, Wednesday announced the acquisition of Reaction Web, an online solutions company focused in the commercial real estate industry. Terms of the transaction were not disclosed.
Reaction Web develops client focused, custom web sites that allow brokerage firms and brokerage teams to market listings to potential investors and enhance the sales process. The web sites are customized and tailored to each client's individual brand.
Reaction Web's advanced transaction management tools enable brokers to automate core steps such as registration, investor approval, execution of confidentiality agreements, response tracking, and the creation of due diligence war rooms. In addition, automated lead tracking services allow brokers to monitor each investor's level of interest based on total visits to a property listing, specific page views, and information downloads, LoopNet noted.
LoopNet also stated that Reaction Web has provided online services for some of the nation's best known commercial brokerages and practice groups including the CB Richard Ellis Private Client Group, Apartment Realty Advisors, Grubb & Ellis Private and Institutional Capital Markets groups, Colliers International, Cushman Wakefield and Madison Partners of Los Angeles.
Reaction Web will continue to be managed by its founders Mike Mockus and Paul Dynan. The entire Reaction Web team will remain intact. LoopNet does not currently expect the acquisition of Reaction Web to have a material impact on its 2010 financial results.
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