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By Sam Boughedda
Investing.com — Walker & Dunlop Inc (NYSE:), the industrial actual property monetary providers supplier, will purchase industrial actual property expertise enterprise GeoPhy.
The deal will see Walker & Dunlop pay $85 million in money with a further $205 million of money earn-out potential. The deal is anticipated to shut in the course of the first quarter.
Walker & Dunlop stated GeoPhy’s knowledge analytics and growth capabilities will speed up the expansion of its lending, brokerage, and rising companies, together with Apprise, its tech-enabled appraisal enterprise and its small stability lending platform.
Teun van den Dries, GeoPhy’s CEO and co-founder, will proceed to steer the GeoPhy crew and take management of the Apprise and small stability lending companies.
Walker & Dunlop Chairman and CEO Willy Walker stated: “This acquisition is a game-changing funding for Walker & Dunlop, because it dramatically accelerates the expansion of our expertise capabilities in two areas of the market the place we’ve got the power to disrupt the industrial actual property providers trade.
“As our present JV associate in Apprise, we’re properly acquainted with the GeoPhy crew and their capabilities.”
Walker & Dunlop shares are at present up greater than 1.3%, from Friday’s $139.18 shut. On Thursday, Walker & Dunlop reported its fourth-quarter outcomes, beating on earnings per shares and income.
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