Real estate information marketplace Zillow has entered into a definitive agreement to acquire RentJuice, a San Francisco-based company, for $40 million in cash. RentJuice provides rental relationship management software for landlords, property managers and rental brokers. The transaction is subject to satisfaction of customary closing conditions and is expected to close in the second quarter of 2012.
RentJuice launched in 2009 and has 31 employees. The company offers a subscription-based suite of marketing and productivity tools for rental professionals, including a customer relationship management platform for managing leads and relationships; rental listings management software and syndication across the Web; consumer credit screening; and an online- and mobile-based secure way for consumers to submit rental applications.
RentJuice will be the third acquisition by Zillow. In spring 2011, the company acquired Postlets, a leading online real estate listing creation and distribution platform, and in fall 2011 Zillow acquired Diverse Solutions, which helps real estate agents market their businesses and improve their personal websites.