CoStar Group Welcomes Mark Ibbotson as Managing Director for CoStar Canada

TORONTO, Nov. 9, 2016 /CNW/ -- CoStar Group proudly announces the appointment of Mark Ibbotson as Managing Director of CoStar Canada, which is answering the booming market's demand for accurate, comprehensive commercial real estate information. In this role, Mark will lead CoStar's go-to-market strategy across Canada.

"In addition to his strategic direction, Mark will manage cross-functional research and marketing initiatives, empowering teams to collaborate and deliver outstanding revenue results using a seamless market approach," said Max Linnington, CoStar Group Executive Vice President, Sales. "He's superbly suited to help CoStar continue in its efforts to deliver an unrivaled market approach in Canada."

Ibbotson brings 20 years of experience in sales and marketing, with significant experience building top performing, top producing teams. Most recently, having served as Vice President of Sales and General Manager for Allstream, Central Region & National Channels, Mark was responsible for $240 million in annualized revenue. He was instrumental in planning and delivering an integrated sales model that incorporated multi-channel integration—including inside sales, direct sales and partner alliances across critical segments. Before that, he served in various sales and marketing leadership roles within the Canadian telecom and technology industry, including Bell Canada.

"CoStar Group's 30 years of growth and innovation are supported by a highly educated and motivated work force," said Andrew Florance, CoStar Group Founder and Chief Executive Officer. "We believe Mark is an integral addition to our Canadian team, as we continue to expand throughout this important market."

CoStar's service was introduced in Canada in 2014, and secured nine of the top 12 Canadian brokers during its first nine months in the market alone. The company continues to build on this momentum by focusing on market diversification, achieving exceptional results in securing top brokerage, investment, government and lending accounts. The new Toronto office serves as CoStar's Canadian headquarters and home base for Canadian market researchers. This provides grass-roots presence to help Toronto-based brokers, investors, property owners and managers acting on granular information make informed investment decisions quickly and confidently.

CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with more than 10 million registered members. Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Through an exclusive partnership with Move, a subsidiary of News Corporation, Apartments.com is the exclusive provider of apartment community listings across Move's family of websites, which include realtor.com®, doorsteps.com and move.com. CoStar Group's websites attracted an average of nearly 25 million unique monthly visitors in aggregate in the third quarter of 2016. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of approximately 2,800 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar Group's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the possibility that revenue results are not as expected, and that the company's expansion plans change. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2015, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar's other filings with the SEC available at the SEC's website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.

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SOURCE CoStar Group, Inc.