Commercial Real Estate Startups VTS and Hightower to Merge

VTS and Hightower, both startups that give users a mobile-friendly dashboard to track commercial real estate information, announced they are merging, reported the Wall Street Journal. The merger is rumored to be worth $300 million.

The companies hope the merger will help the newly combined entity better use data to add analytic and forecasting services and track details such as rents and lease expirations in a particular neighborhood. The target audience will be the owners and users of more than 5.5 billion square feet of commercial real estate space in the U.S. and the U.K.

The new firm will retain the VTS name and be led by its CEO Nick Romito.