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VENTURA COUNTY BUSINESS

Homestore.com Purchases Real Estate Internet Firm

May 16, 2000|BARBARA MURPHY

Homestore.com in Thousand Oaks has acquired WyldFyre Technologies, which develops technology to let real estate professionals access listing service information on the Internet.

The acquisition is another step in the company's strategy to fully automate the real estate transaction process with Internet and wireless technologies. Homestore.com issued about 589,000 shares of common stock in connection with the acquisition.

WyldFyre's existing products are used by more than 100,000 real estate professionals in the United States, Canada and Australia, and in more than 200 real estate associations throughout North America. The company is located in the Silicon Valley.

"The ability to conduct real estate transactions via the Internet offers enormous potential for the industry, and this is only one of many steps that we are taking to make online transactions a reality," said Stuart Wolff, Homestore.com's chairman and chief executive.

Homestore.com operates a network of sites on the Internet for home and real estate-related information.

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