CoStar Group (CSGP) Acquires Resolve Technology; Will Increase Business Intelligence and Analystic Solutions
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CoStar Group, Inc. (NASDAQ: CSGP) today announced the acquisition of Resolve Technology, Inc.
The acquisition will have no effect on CoStar Group's third quarter 2009 results, scheduled to be released on October 21, 2009, and the Company reaffirms its guidance for the third quarter. Also, the acquisition is not expected to significantly affect CoStar Group's 2009 revenue and earnings. A more detailed discussion of the acquisition is planned for CoStar Group's Third Quarter 2009 Conference Call scheduled for Thursday, October 22, 2009.
Resolve was founded in 1990 by CEO Eric Forman and is based in Needham, Mass. Its clients include many of the world's leading real estate advisory and investment management firms, REITs, pension funds, and life insurance companies. Resolve's Request and Portfolio Maximizer software solutions enable investment managers to integrate data spread over numerous disconnected systems and countless Excel spreadsheets in one centralized information solution for the management of their real estate investments.
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