INDEPENDENCE, Mo., May 8, 2012 (GLOBE NEWSWIRE) -- In conjunction with global business-to-business information company dmg :: information (dmgi), Xceligent's founders have re-purchased all of Xceligent's outstanding shares and now turn their focus on a national expansion effort. The deal closed May 3, says Xceligent founder and CEO Doug Curry.
The transaction follows the Federal Trade Commission's consent decree related to the CoStar – LoopNet merger that required the divestiture of Xceligent in order to create a national competitor to the merged entity.
"This will completely change the landscape of the industry as we know it," says Curry. "For years, those who use commercial real estate information in metro areas like Chicago, New York, Washington D.C., Miami, Seattle, and other top tier markets have had to rely, for the most part, on a single source. Now, they will have a competitive, cost-effective alternative."
Curry says that dmgi's funding will allow Xceligent to match CoStar's national footprint as well as expand its product offering in its quest to become best of class for the industry.
Combining Xceligent's experience in providing high-quality must-have information to real estate professionals with dmgi's proven track record of growing companies to become leading information sources in their respective sectors was seen as the best way to create a national competitor.
This expansion is already in high gear. Xceligent has recently completed the Atlanta market launch, physically inspecting over 40,000 commercial properties, and has already begun research in the next two Top Tier cities. Over the next 36 months, Xceligent will finish the build out of the 65 largest US markets adding 35 to the 30 markets it already covers and the remainder of the United States thereafter. In each case, Xceligent's approach will play to its well-known strengths of exceptional data quality, superior customer service, and a unique focus of working in deep collaboration with the industry.
For more information, go to news.xceligent.com or contact Sam Lewis, marketing@Xceligent.com, 816.303.2809.
About dmg :: information
dmg :: information (dmgi) is a business division of DMGT that manages and develops a portfolio of high-growth, innovative companies that provide business-to-business information to the property, education, energy and commodity and structured finance markets. dmgi is headquartered in Stamford, CT.
About Xceligent
Xceligent, Inc., a leading provider of commercial real estate information services, is based in Independence, MO and has 210 employees. Leveraging an efficient, research-focused model, Xceligent provides commercial real estate professionals with accurate and timely information on commercial real estate availabilities. Xceligent currently provides information services in 30 major U.S. metropolitan markets.
The Xceligent, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12779