CoStar Group, Inc. (NASDAQ: CSGP), the Washington, DC Based Provider of Commercial Real Estate Information, is in No Way Associated with Chinese Firm Costar Group Co. Ltd. (002189.SZ), a Chinese Company Facing a Ban on Stock Purchases by Americans
CoStar Group (NASDAQ: CSGP) clarified its independence from Chinese firm CoStar Group Co., Ltd., which is subject to U.S. investment restrictions due to alleged ties to the defense sector. The announcement follows the Biden Administration's June 2021 Executive Order that included this Chinese company in a list of 59 entities under scrutiny. CoStar Group, founded in 1987, is a leader in commercial real estate data and analytics, maintaining the largest database in the sector and providing comprehensive online services for market insights.
- Clear distinction between CoStar Group and the Chinese firm, reinforcing brand integrity.
- Affirmation of CoStar's leadership in commercial real estate data and analytics.
- Possibility of enhanced investor confidence due to clarification amid geopolitical tensions.
- None.
CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, issued a statement today clarifying that it is in no way associated, related or linked to Chinese firm CoStar Group Co., Ltd., a company principally engaged in the research, development, design, manufacture, processing and sales of optical parts and components.
CoStar Group, Inc.’s clarification is a response to the Biden Administration’s June 3, 2021 Executive Order expanding restrictions on American investments in 59 Chinese companies with alleged associations to the Chinese defense sector. Among the list of companies was Chinese firm, CoStar Group Co., Ltd.
About CoStar Group
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality sector. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals brand and property advertising that connect consumers with real estate professionals. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe, Canada and Asia with a staff of over 4,600 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210607005207/en/
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