TORONTO – Software and data company Rentsync says it is acquiring real estate research firm Urbanation.
Rentsync chief executive Max Steinman says the move is meant to help form a single source for reliable housing and real estate data, noting plans to grow Urbanation’s brand.
Over the past three years, Urbanation and Rentsync have partnered to publish monthly reports on Canada’s rental market using data from Rentals.ca’s network of listings.
The companies say Urbanation president Shaun Hildebrand will continue to lead data and market analytics and work to expand offerings of rental market analysis across Canada.
Hildebrand says the integration of Urbanation into Rentsync “represents an important milestone for Canada’s residential real estate sector,” especially as purpose-built rentals and condominiums take on a central role in efforts to expand housing supply and improve housing affordability.
Last month, Rentsync also announced its acquisition of commercial real estate listing marketplace Spacelist, which it said represented a step toward delivering “a unified platform that supports both residential and commercial property listings, workflows, and marketing.”
