Homestore Buys Move.com

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Online real estate company Homestore.com said Friday that it has agreed to buy real estate portal Move.com from Cendant Corp.


The all-stock deal, valued at $761 million, is expected to create the largest Internet-based real estate service.


Under terms of the deal, Cendant's assets -- such as move.com, apartment locator service Rent Net, direct marketing company Welcome Wagon and other Move.com Web sites -- will be integrated into Homestore's Web properties.

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