U.S. Portal Operator OJO Labs Acquires The LEAD Syndicate

The U.S. PropTech operator OJO Labs has announced that it has acquired The LEAD Syndicate, a provider of teach solutions for agents. The financial terms of the deal were not disclosed.

The deal is expected to be the launchpad for the Austin, Texas firm to launch a new all-in-one platform and a rebranded solution around its real estate marketplace business, Movoto.

OJO President, Chris Heller told US industry publication Inman that the new platform, which will be named 'Lever by Movoto' would be aimed at individual agents who aren’t on an agency team but who aren't beginners either. Lever will incorporate the lead generation, marketing, transaction and database management solutions that were operated by The Lead Syndicate as well as a raft of other agent-facing products already offered by OJO Labs.

OJO Labs acquired the U.S. challenger portal Movoto in 2020. Movoto competes with the likes of Zillow, Realtor.com and Homes.com in both residential sales and rentals.