CoStar Expands Reach to U.K.

Property Intelligence Ltd., a subsidiary of the CoStar Group Inc., has purchased Scottish Property Network for approximately $1.3 million in cash."This acquisition fills an important missing piece of our U.K. coverage and greatly enhances our competitive position in the U.K.'s main property centers," said CoStar Group president and chief executive officer Andrew C. Florence. CoStar said the acquisition of the online commercial property information provider is not expected to significantly affect CoStar's earnings. CoStar can be found online at http://www.costar.com.