Rocket Companies Acquires Redfin in $1.75 Billion All-Stock Deal

The acquisition aims to integrate Redfin's real estate platform with Rocket's mortgage services, targeting $200 million in synergies by 2027.

Rocket Companies will acquire Redfin in an all-stock transaction valuing Redfin shares at $12.50 each, representing a total equity value of $1.75 billion.
The deal offers a 63% premium over Redfin's volume-weighted average price in the month leading up to March 7, 2025.
Redfin shareholders will own 5% of the combined company, while Rocket shareholders will control the remaining 95%.
Rocket projects over $200 million in run-rate synergies by 2027, including $140 million in cost savings and $60 million in revenue synergies.
Redfin's CEO Glenn Kelman will remain in his role, reporting directly to Rocket Companies CEO Varun Krishna, as the companies aim to streamline the home-buying process through integrated technology.