Rocket Companies (NYSE: RKT), a Detroit, MI-based provider of a fintech platform consisting of mortgage, real estate and personal finance businesses, acquired Redfin, a (NASDAQ: RDFN), a Seattle, WA-based digital real estate brokerage.
The amount of the deal was not disclosed.
With he acquisition, the companies will:
- Introduce more consumers to the Rocket ecosystem
- Drive Rocket’s purchase mortgage growth
- AI, technology and personalization at scale
- Achieve significant synergies and earnings accretion
Led by CEO Glenn Kelman, Redfin is a real estate brand with over 1 million listings of homes for sale and rent and a technology-enabled real estate agency of over 2,200 agents.
Led by CEO Varun Krishna, Rocket Companies provides a digital platform that gives access to home financing in all 50 states across 3,000+ counties and parishes.
Upon closing of the transaction, it is expected that Redfin CEO Glenn Kelman will continue to lead the Redfin business, reporting to Rocket Companies’ CEO Varun Krishna.
FinSMEs
17/03/2025