RealTime IT News

Homestore.com Inc. Moves In on WyldFyre Technologies

Online real estate firm Homestore.com Inc. Wednesday acquired WyldFyre Technologies, Inc., a developer of technology solutions for real estate professionals, in a stock deal worth $14.8 million.

Homestore.com (HOMS) will exchange approximately 589,000 shares for all outstanding WyldFyre equity.

The purchase is part of Homestore.com's plan to fully automate the real estate transaction process with Internet-based solutions and emerging wireless technologies, according to Stuart Wolff, chairman and chief executive officer.

"The ability to conduct real estate transactions via the Internet offers enormous potential for the industry and this is only one of many steps that we are taking to make online transactions a reality," said Wolff. "Through the WyldFyre suite of products, we are giving real estate agents the ability to leverage the power of the Internet to quickly, easily and efficiently increase productivity and earning power."

WyldFyre's core product is a listings management software that is marketed under a number of brands including WyldFyre Listings. The software allows Realtors to quickly access and download property data and photos and customize their reports. The company currently is beta testing RealtyLink, which is designed to provide Realtors with a unified view into the property closing process.