Xceligent Shuts Down, Files for Liquidation
WILMINGTON, DE—Commercial property data provider Xceligent Inc. has ceased operations and filed for Chapter 7 liquidation in US Bankruptcy Court here. The announcement of the shutdown Friday by DMGT, Xceligent’s London-based parent company since 2012, comes two weeks after the Wall Street Journal reported that settlement talks between Xceligent and rival CoStar Group, each of which had filed suit against the other, had broken down.
DMGT announced this past Nov. 30 that Xceligent’s new management team was undertaking a strategic review. This followed a reduction in Xceligent’s carrying value to zero in the face of earnings that fell short of expectations.