Zillow Agrees To Acquire Trulia In $3.5 Bln Stock-for-stock Deal - Quick Facts

(RTTNews) - Zillow, Inc. (Z) Monday said it has entered into a definitive agreement to acquire Trulia, Inc. (TRLA) for $3.5 billion in a stock-for-stock transaction.

The Boards of Directors of both companies have approved the transaction, which is expected to close in 2015.

Both Zillow and Trulia are primarily media companies, generating majority of revenue through advertising sales to real estate professionals.

Trulia shareholders will receive 0.444 shares of Class A Common Stock of Zillow for each share of Trulia, and will own about 33 percent of the combined company.

Current Zillow holders of Class A Common Stock and Class B Common Stock will receive one comparable share of the combined company at closing, and will represent approximately 67 percent of the combined company.

The combined company will maintain both the Zillow and Trulia consumer brands, providing access to vital information about homes and real estate for free, and providing advertising and software solutions that help real estate professionals.

At closing, Trulia CEO Pete Flint will remain as CEO of Trulia reporting to Zillow CEO, Spencer Rascoff. He will join the Board of Directors of the combined company.

In addition, at closing, a second member of Trulia's Board of Directors will join the board of the combined company.