RealSelect to Merge With Bay Area Firm

RealSelect Inc. in Thousand Oaks and SpringStreet Inc. based in San Francisco have agreed to merge in an all-stock transaction.

The combined companies will offer consumers an online home-buying and rental service.

SpringStreet will join the RealSelect Network, which includes Realtor.com, HomeBuilder.com and CommercialSource.com. There are more than 1.25 million homes for sale on Realtor.com, 6 million rental units on SpringStreet and 12,800 builders on HomeBuilder.com.

The purchase transaction has been approved by both companies’ boards of directors.

SpringStreet CEO John Helm will continue in his role to help lead SpringStreet’s integration as a subsidiary of RealSelect.

“By providing consumers a broad home, investment and rental selection identified through these separate Web sites, we believe mergers such as [this one] ultimately help consumers find resources to help them make more informed housing decisions,” Helm said.