Zillow Acquires Mortgage Software Company Mortech For $17 Million

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http://techcrunch.com – After reporting earnings today, Zillow has also announced the acquisition of mortgage software company Mortech. The financial terms of the acquisition is approximately $12 million in cash and 150,000 shares of restricted stock, around $17 million at today’s stock price of $34.37 at the close of market. The deal is expected to close in the fourth quarter of 2012. Mortech offers a product and pricing engine to help lenders match the right mortgage products to the needs of a borrower at the best prices. The software also includes a lead-management platform to help lenders serve borrowers fr (IT news)