Fathom Divests LiveBy Assets to Move Concierge for $3 Million
Fathom announced the divesture of LiveBy assets to Move Concierge for $3 million. The Company expects to receive an additional $300,000 annually in contingent consideration based on data-sharing arrangements. The proceeds from the divestiture will support Fathom's growth initiatives. As part of the transaction, Fathom will retain access to the LiveBy platform for the next five years. In addition, Move Concierge has committed to extending its current suite of services to all Fathom agents. Both LiveBy and Move Concierge will make their services available to every agent and brokerage that licenses the IntelliAgent platform.
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Fathom Holdings Divests LiveBy Assets for $3 Million Cash
- Asset Sale: Fathom Holdings divested its LiveBy assets to Move Concierge for $3 million, with an expected additional annual revenue of $300,000, which will support the company's growth initiatives.
- Continued Access: As part of the transaction, Fathom will retain access to the LiveBy platform for the next five years, ensuring its agents can leverage the platform's data and technology to enhance client experience and satisfaction.
- Partnership Deepening: This transaction deepens the partnership between Fathom and Move Concierge, with Move Concierge committing to extend its services to all Fathom agents, thereby enhancing competitive positioning for both companies.
- Strategic Advantage: Fathom CEO Marco Fregenal stated that this transaction not only strengthens the company's financial position but also enhances the value delivered to agents and clients, further positioning Fathom for sustainable, profitable growth.
Fathom Forms Strategic Alliance with Move Concierge
Partnership Announcement: Fathom Holdings Inc. has formed a strategic partnership with Move Concierge to enhance the moving experience for its agents and clients by providing access to premium concierge services.
Service Integration: The collaboration aims to streamline the moving process by allowing clients to set up home services through a personal concierge, making it easier and more efficient.
Company Background: Move Concierge has been in operation since 2009, serving over 250,000 customers with a high satisfaction rating, and is recognized for its exceptional customer service.
Fathom's Commitment: This partnership reflects Fathom's dedication to innovation and improving the homeownership journey, positioning itself as a comprehensive service provider in the real estate industry.
