Zillow Sells Off Diverse Solutions

Five years after purchasing the online real estate marketing Diverse Solutions, Zillow has quietly sold the company to Market Leader, a subsidiary of the Bellevue, Wash.-based Constellation Software Inc.

According to a GeekWire report, Zillow sold Market Leader to Constellation Software last year for $23 million; it was purchased by Trulia (now a Zillow subsidiary) for $355 million in 2014. Zillow acquired Diverse Solutions in 2011 for $7.8 million, but the price of the sale was not made public (Zillow did not make any announcement of the transaction on its Web site’s news release page).

Diverse Solutions provides plug-ins for an Internet Data Exchange that enables real estate agents to post MLS listings to their Web sites. In a press statement, Market Leader President and General Manager Scott Smith welcomed the acquisition by claiming the Diverse Solutions product line “fit well with our strong history and track-record for delivering high-producing solutions to help real estate professionals build their businesses.”