LoopNet Acquires Online Land-For-Sale Marketplace LandsOfAmerica

LoopNet , the publicly-listed operator of a massive online commercial real estate marketplace and one of the largest commercial property research databases, has acquired LandsofAmerica , which runs an online marketplace specializing in land for sale. The terms of the acquisition were not disclosed. The entire management team of the Austin, Texas based company - including its founders Allen Shannon and Jake Massengale - will remain with LoopNet to manage and grow the business.