M
ovoto, a top-five home search site, has been "battling giants" for years, but its president says this acquisition will give it a boost and consumers a better end-to-end experience. Lower, a fast-growing mortgage lender, is buying Movoto in a move that echoes the recent acquisition of Redfin by Rocket.

    Movoto President Chris Heller acknowledged the similarities, saying this deal bridges real estate and mortgage by connecting consumers with service professionals throughout the transaction. Financial terms were not disclosed.

    Lower operates a digital lending platform and has local branches across the US. CEO Dan Snyder said the acquisition strengthens its position as a challenger platform, allowing it to create a simpler path to homeownership through technology and local expertise. Lower President Adam Wiener, a Redfin veteran, said integrating their lending strength with Movoto's experience will lead to an end-to-end ecosystem that creates clients for life.

    Movoto has held significant market share despite being in a competitive space dominated by Zillow. Last year, its parent company OJO acquired The LEAD Syndicate and rebranded it as Lever by Movoto. Heller said Lower values real estate agents and teams at the same level they do.

    The acquisition means Movoto will continue to operate independently, building partnerships with real estate teams and connecting them with Lower mortgage professionals and branches. Heller and CEO John Berkowitz will stay on in leadership roles with Lower, which will have more than 1,000 employees and offices in Columbus and Austin.