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Move.com Acquires HouseNet, Inc.

R.R. Donnelley sells home and garden site

May 17, 2000
By Roy Mark: More stories by this author:

The Move.com Group is acquiring HouseNet, Inc. from R.R. Donnelley & Sons. The HouseNet home and garden web site offers free advice, home projects, and how-to articles on everything from fixing a leaking faucet to major remodeling projects. Terms of the deal were not disclosed.

Move.com, a relocation, real estate and home-related portal, will integrate HouseNet's editorial content, online communities and other interactive components within the Move.com network of Web sites. Move.com is a division of Cendant Corp's. (NYSE: CD) real estate and Internet group.

Founded in 1991, HouseNet is a pioneer in online home living content. The Stevensville, Md.-based company receives approximately 250,000 monthly unique visitors. According to Media Metrix, the addition of HouseNet increases the Move.com network's penetration to 2.3 percent of all Internet users, second highest among relocation-related networks.

"HouseNet is a perfect strategic fit for Move.com," said Sarah Nolan, chief executive officer of Move.com Group. "Our network is committed to assisting consumers with high quality services before, during and after a move. HouseNet will allow Move.com and our member sites to offer more in-depth and useful content to help users settle into life in their new homes."

In addition to the flagship Move.com Web site, the Move.com network includes popular online destinations like Century21.com, Coldwellbanker.com, ERA.com, as well as Rent.Net. Move.com already features post-move assistance through Move.com connections as well as various furniture, home improvement, shopping, automobile, childcare, and other products and services.

Richard Cutting, general manager of HouseNet, will join Move.com as director of content. Over the past ten years, Cutting has worked for leading media companies such as NBC, Columbia Pictures, CondeNet, and Parentime.com.

"HouseNet is taking the next step by joining a larger home-related portal with broader reach," said Cutting. "Move.com, with its emphasis on quality and its direct connection to more than 200,000 real estate professionals worldwide, is a perfect new home for our site and for our thousands of active registered users."

Move.com draws upon the capabilities and existing infrastructure of Cendant's lines of business and other selected partners to assist customers with moving needs. Built upon the success of Rent Net's online apartment guide business model, Move.com has distribution agreements with Alta Vista, Yahoo, AOL, Excite, and Ask Jeeves. Move.com Group maintains headquarters in San Francisco, Calif.

HouseNet is located at http://www.housenet.com.







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