WASHINGTON, Aug. 4, 2014 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP) ("CoStar") today announced that global commercial real estate services leader Colliers International signed a new multi-year subscription agreement for CoStar Suite™ to make CoStar's full line of information services available to its commercial real estate professionals in the United Kingdom.
Under the new agreement, Colliers International professionals across the UK will now have access to CoStar's most advanced research platform, featuring CoStar Property®, CoStar COMPS®, CoStar Tenant® and CoStar's innovative mobile app for the iPad, CoStarGo®.
CoStar successfully introduced its full suite of industry-leading information services in the UK last year as an upgrade to the FOCUS platform. CoStar also provides comprehensive commercial real estate information services to Colliers International professionals throughout the US.
Through CoStar Suite, UK subscribers gain access to a comprehensive inventory of office, industrial and retail properties, the UK's largest online library of commercial property images, and sophisticated software to research lease and sales availability, analyze trends and transactions, track market conditions and position properties in the marketplace.
The new agreement, which expands a longstanding business relationship between Colliers International and CoStar, represents an upgrade for Colliers from its current subscription in the UK to the recently launched CoStar Suite.
"We are delighted with the opportunity to broaden our services to Colliers International, one of our largest customers and one of the largest real estate service providers in the world," stated CoStar Founder and CEO Andrew C. Florance. "We believe Colliers International professionals will benefit from the comprehensive view CoStar Suite provides, along with the many other top firms in the UK that have recently become subscribers."
About Colliers International
Colliers International is a global leader in commercial real estate services, with over 15,800 professionals operating out of more than 485 offices in 63 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 8.7 million registered members. Apartments.com is a premier online apartment resource for renters that matches apartment seekers with great apartment homes and provides property managers and owners a proven platform for marketing their properties. CoStar operates websites with over 16 million unique monthly visitors in aggregate during second quarter of 2014. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S., Canada and Europe with a staff of over 2,300 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar's financial expectations, the company's plans, objectives, expectations and intentions and other statements including words such as "hope," "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar and are subject to significant risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements. Factors that could cause results to differ materially from those anticipated in the forward-looking statements can be found in CoStar's Annual Report on Form 10-K for the year ended December 31, 2013, and Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, and the company's other filings with the SEC available at the SEC's website (www.sec.gov). CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: CoStar Group, Inc.