Friday, August 3, 2007

LoopNet Acquires Cityfeet.com

San Francisco-based LoopNet said Thursday afternoon that it has acquired Cityfeet.com, an online provider of commercial property listings. The deal is worth $15M in cash, plus up to $3M in future earnout. According to LoopNet, it expects that Cityfeet will add $1M in revenues to Loopnet for the remainder of 2007. LoopNet was advised by Pacific Crest Securities in the deal.