Zillow Group, Inc. (Z,ZG), an online real estate platform, said on Wednesday that it has inked a deal to acquire Follow Up Boss, a customer relationship management or CRM system for real estate professionals, for an initial cash consideration of $400 million and up to $100 million in earn-out payments.
Zillow said that the acquisition will further support its teams and agents to boost productivity and their businesses.
Post transaction, Follow Up Boss will remain as an independent brand while serving all existing clients, regardless of whether an agent engages with other Zillow Group platforms.
Follow Up Boss has around 100 full-time staff who will join Zillow once the acquisition closes, including co-founders Dan Corkill and Tom Markov.
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