Re/Max buys data company, unveils Q3 outlook

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Re/Max Holdings Inc. unveiled an outlook for its third quarter and announced the acquisition of a location intelligence-data company for an undisclosed sum. Re/Max said it expects an increase between 4% and 4.5% in its agent count in the third quarter, revenue in a range between $69 million to $710 million, and adjusted EBITDA between $28 million and $30 million. The company said it expects to report third-quarter earnings on Nov. 5. In the same statement, Re/Max said it bought the Gadberry Group, “another building block in the RE/MAX quest to become the worldwide leader in real estate technology.” No financial details of the cash-and-stock deal were disclosed, and Re/Max said it expects it to have a “negligible” impact on its third-quarter results. Shares of Re/Max were flat in the extended session after ending the regular trading day down 4.8%.
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