CoStar Group acquired STR, Inc. and STR Global, Ltd. for $450 million in cash (aggregate purchase price, subject to adjustments), a transaction announced in September 2019, structured as all cash.
STR, Inc. and STR Global, Ltd. operates in Hospitality data and benchmarking. Through subsidiaries CoStar Realty Information and CoStar Portfolio Strategy, CoStar agreed to acquire all outstanding equity of STR, Inc. (a Tennessee corporation) and STR Global, Ltd. (registered in England and Wales) from the Smith family sellers under a Securities Purchase Agreement. STR is a leading provider of hotel and hospitality benchmarking data and analytics. A separate agreement covered the minority shareholder of STR Global.
Extend CoStar's real estate data franchise into the hospitality sector by acquiring the leading provider of hotel benchmarking data.
Advisory firms were not disclosed for this transaction.