Real estate lister Zillow has officially acquired competitor Trulia in a stock-for-stock transaction valued at $2.5 billion. When Zillow first announced its intentions to take over
Trulia, the stock price still valued the transaction at $3.5 billion. The merger meant 350 employees were laid off in San Francisco and Bellevue, Wash., because of redundancy of function, per Zillow.
The two companies have about 2,000 employees between them.
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