Redfin CEO Glenn Kelman is expected to remain at the helm of the real estate brokerage once the deal closes.
Mortgage lender Rocket Cos. has agreed to acquire online real estate brokerage Redfin in an all-stock deal valued at $1.75 billion.
The transaction, announced Monday, gives one of the nation’s largest mortgage lenders an in-house network of more than 2,000 real estate agents across 42 states and Redfin’s popular home and rental housing listings platform, which draws nearly 50 million monthly visitors.
The deal values Redfin at $12.50 per share. Shares in Seattle-based Redfin soared 68.5% in morning trading to $9.81 per share, while
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