Real estate marketplace Zillow Inc. says it has acquired Vancouver, British Columbia-based Retsly, a software company that normalizes real estate data from multiple listing services (MLSs) so that developers can build data-driven products.
Retsly also provides MLSs with the tools to manage software applications in their market and ensure their content is being used appropriately. The company, which was founded last year, will continue to operate from Vancouver.
The acquisition is an extension of the Zillow Tech Connect program, which was launched in November 2013 and enables technology companies to directly integrate with Zillow to help brokers and agents deliver services to buyers and sellers.Â
‘Retsly's platform will spur tremendous innovation in the real estate space, enabling developers to build software that works across MLS boundaries and without the overhead of dealing with local data formats,’ says Spencer Rascoff, CEO of Zillow.
Zillow is not currently disclosing the financial terms of the deal. The company says this is its eighth acquisition.