Loopnet Acquires Bizquest

LoopNet Acquires BizQuest, LLC, a Leading Online Business-For-Sale Marketplace
Together with BizBuySell, the acquisition of BizQuest complements and solidifies LoopNet’s leadership in the online business-for-sale marketplace sector.

San Francisco, CA (PRWEB) January 26, 2010 -- LoopNet, Inc. (NASDAQ: LOOP), which operates the largest online commercial real estate marketplace and the largest business for sale marketplace, BizBuySell, announced today that it has acquired the assets of privately-held BizQuest, LLC to complement its leading position in the online business-for-sale marketplace sector.

Founded in 1994 and headquartered in Pasadena, California, BizQuest.com is a leader in aggregating sellers, buyers and brokers in the small business-for-sale market. BizQuest currently offers over 35,000 businesses for sale, an industry-leading franchise directory, as well as other tools and services for aspiring small business buyers and sellers.

We will also begin to address one of the most significant pain points for our broker customers, entering listings on multiple websites. Soon broker customers of both sites will be able to enter and manage a business listing on BizBuySell and have it automatically and seamlessly display on BizQuest as well.

LoopNet's acquisition of BizQuest and the ability to coordinate with and leverage the coverage of BizBuySell will allow us to offer even greater exposure and value to our customers

We expect this will be a major milestone for the business-for-sale industry as the seamless integration and time-saving capabilities resulting from the acquisition will benefit sellers and business brokers alike.

“Together, BizBuySell and BizQuest will offer our customers unparalleled exposure to help facilitate faster transactions and more competitive bids on their businesses for sale,” said Mike Handelsman, LoopNet’s Group General Manager for the small business market. “We will also begin to address one of the most significant pain points for our broker customers, entering listings on multiple websites. Soon broker customers of both sites will be able to enter and manage a business listing on BizBuySell and have it automatically and seamlessly display on BizQuest as well.”

BizQuest, which will operate as a division of LoopNet, likewise anticipates the acquisition will serve to benefit its existing clientele.

"LoopNet's acquisition of BizQuest and the ability to coordinate with and leverage the coverage of BizBuySell will allow us to offer even greater exposure and value to our customers,” said Dylan Garland, CEO of BizQuest, LLC. “We expect this will be a major milestone for the business-for-sale industry as the seamless integration and time-saving capabilities resulting from the acquisition will benefit sellers and business brokers alike.”

LoopNet does not currently expect the acquisition of BizQuest to have a material impact on its 2010 financial results.

BizQuest, available at www.BizQuest.com, covers all business-for-sale categories, including restaurant, retail, service, manufacturing and other small business sectors. BizQuest has more than 35,000 businesses for sale and, with over 300 franchise and business opportunities at www.FindAFranchise.com, one of the largest franchise directories available online.

BizBuySell, available at www.BizBuySell.com, also covers all business-for-sale categories, including restaurant, retail, service, manufacturing and other small business sectors. It has more than 45,000 businesses for sale, and more than 325 franchise and business opportunities in its franchise directory.
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To view the entire press release please click HERE.