Fintech platform Rocket Companies announced on Monday that it agreed to acquire digital real estate brokerage Redfin in an all-stock transaction for $1.75 billion of equity value, or $12.50 per Redfin share. The transaction is expected to be closed in the second or third quarter of 2025.

The American fintech firm stated it expects the acquisition of Redfin to introduce more consumers to Rocket Companies and boost its mortgage growth. The company also noted that its artificial intelligence models will use its own data combined with Redfin's to enhance Rocket's artificial intelligence models by making consumer experiences more personalized and automated.

"Rocket and Redfin have a unified vision of a better way to buy and sell homes," Rocket Companies CEO Varun Krishna said. "Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers," he added.