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Walker & Dunlop Acquires Real Estate Tech Company GeoPhy -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Walker & Dunlop Inc (NYSE:)GeoPhy will be acquired by, the provider of commercial realty financial services, GeoPhy.

The deal will see Walker & Dunlop pay $85 million in cash with an additional $205 million of cash earn-out potential. It is anticipated that the deal will close in the first quarter.

Walker & Dunlop said GeoPhy’s data analytics and development capabilities will accelerate the growth of its Lending, brokerage and emerging business, such as Apprise and its tech-enabled appraiser and small balance lending platform. 

GeoPhy CEO, Teun van Den Dries will remain in charge of GeoPhy and the Apprise small balance lending business.

Walker & Dunlop Chairman and CEO Willy Walker said: “This acquisition is a game-changing investment for Walker & Dunlop, as it dramatically accelerates the growth of our technology capabilities in two areas of the market where we have the ability to disrupt the commercial real estate services industry. 

We are familiar with GeoPhy’s capabilities as our JV partner in Apprise.

Walker & Dunlop shares are currently up more than 1.3%, from Friday’s $139.18 close. On Thursday, Walker & Dunlop reported its fourth-quarter results, beating on earnings per shares and revenue. 

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