Traders should monitor the progress of regulatory approvals and shareholder votes, as well as the integration of the two companies. The anticipated cost synergies and revenue growth opportunities could drive margin expansion and long-term value creation, making this a potentially transformative deal for the real estate industry.
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Executive Summary
Real Brokerage Inc. (REAX) announced a definitive agreement to acquire RE/MAX Holdings (RMAX) for an enterprise value of $880 million, creating a combined technology-enabled global real estate platform named Real REMAX Group. The transaction is expected to be accretive to earnings and EBITDA margin within the first full year and is anticipated to close in the second half of 2026.
Key Facts
- Real Brokerage Inc. (REAX) is acquiring RE/MAX Holdings (RMAX) for an enterprise value of $880 million.
- The transaction is expected to be accretive to Real's earnings and Adjusted EBITDA margin within the first full fiscal year following the close.
- The combined company would have generated approximately $2.3 billion in annual revenue and $157 million in Adjusted EBITDA before synergies in 2025 on a pro forma basis.
- The transaction values RE/MAX Holdings at approximately 7x fully synergized 2025 EBITDA.
- The transaction is expected to generate approximately $30 million of annual run-rate cost savings, with the majority expected to be realized within calendar year 2027.
- The combined company will have a diversified earnings profile and is expected to have a targeted leverage ratio of sub-2.0x net debt-to-Adjusted EBITDA by the end of the second full fiscal year following the close.
- The transaction is subject to customary closing conditions, regulatory approvals, and approval by each company's shareholders.
- The transaction is expected to close in the second half of 2026.
Financial Impact
The combined company would have generated approximately $2.3 billion in annual revenue and $157 million in Adjusted EBITDA before synergies in 2025 on a pro forma basis. The transaction is expected to generate approximately $30 million of annual run-rate cost savings.
Risk Factors
- The transaction is subject to customary closing conditions, regulatory approvals, and approval by each company's shareholders.
- The transaction may not be completed on the expected timeline or at all.
- The transaction may not achieve the anticipated benefits or synergies.
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-049066 |
| Document: tm2612777d1_ex99-2.htm | 0001104659-26-049066 |
| Document: tm2612777d1_6k.htm | 0001104659-26-049066 |
| Document: 0001104659-26-049066-index-headers.html | 0001104659-26-049066 |
| Document: 0001104659-26-049066-index.html | 0001104659-26-049066 |
| Document: 0001104659-26-049066.txt | 0001104659-26-049066 |
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Sep 17, 2026 5w ago | 144 | $16.53 $16.43 | ▲ +0.60% | ▲ +1.87% | $15.13 (+8.47%) |
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