SOURCE: Radar Logic Inc.

September 27, 2007 09:00 ET

Miller Samuel Inc. to Be Acquired by Radar Logic

NEW YORK, NY--(Marketwire - September 27, 2007) - Radar Logic Incorporated, the data and analytics company enabling derivatives trading in the RPX™ market based on daily prices for residential real estate, announced today that it has reached an agreement to acquire leading residential real estate appraisal firm Miller Samuel Inc. The acquisition will strengthen both companies' insight into the residential real estate market while opening new lines of business, including monthly commentary and analysis of the Metropolitan Statistical Areas (MSAs), for which Radar Logic publishes data. The first of these reports is scheduled for release in early October.

In April 2007 the companies formed Radar Logic Research LLC to publish real estate research and offer enterprise-specific consulting services. The acquisition will further this goal, combining Miller Samuel's 21 years of unbiased real estate valuation expertise with the proprietary technology and analytics of Radar Logic.

Jonathan Miller, co-founder and current President/CEO of Miller Samuel, will become an Executive Vice President of Radar Logic Incorporated. He will serve as the Director of Reasearch for Radar Logic as well as continue to be actively involved in the ongoing business of Miller Samuel, including the publication of its widely read market reports (1.2 million copies distributed annually). Dina Miller, a co-founder of Miller Samuel, will become CEO of Miller Samuel and oversee its continuing operations.

"We are excited about the unique opportunity to leverage our valuation and market reporting expertise with the groundbreaking data analytics pioneered by Radar Logic," said Miller. "It's a perfect fit."

According to Michael Feder, President and CEO of Radar Logic Incorporated, "This acquisition brings Radar Logic true in-depth, practical experience in real estate markets and valuation. The executives and staff of Miller Samuel will form the core of Radar Logic Research and advisory services. We are delighted with this key step forward in our broad business plan."

Terms of the transaction were not disclosed.

About Radar Logic Incorporated (www.radarlogic.com)

Radar Logic, the home of tradable real estate(SM), is a technology-driven data and analytics business that produces a daily "spot" price for residential real estate in U.S. metropolitan areas. To do this, actual transaction data are captured from public sources and translated into the Radar Logic Daily™ Prices. The Daily Prices, in turn, power the Residential Property Index™ (RPX™) market, where derivatives and other financial instruments are offered and traded. RPX allows real estate and financial professionals to manage risk, invest in real estate without owning physical assets, and obtain more accurate insight into the residential property market.

For more information on Radar Logic and the RPX, including licensed dealers, visit www.radarlogic.com.

About Miller Samuel Inc. (www.millersamuel.com)

Miller Samuel Inc. is a leading residential real estate appraisal and consulting firm based in New York City, co-founded and led by Jonathan J. Miller, CRP since 1986. Miller Samuel appraised in excess of $5 billion worth of residential property in the past year. The firm has a record of innovations in the valuation process within one of the most challenging property markets in the United States.

Contact Information

  • Media Contacts:
    Andrea Ferguson, Director of Communications
    Radar Logic Incorporated
    (212) 965-8703
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    Nancy Tamosaitis
    Vorticom, Inc.
    (212) 532-2208
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