Auction giant Ten-X to sell to private equity firm for more than $1B

Private equity firm Thomas H. Lee Partners is purchasing the online real estate marketplace Ten-X for more than $1 billion. The company, formerly Auction.com, brokers both commercial and residential sales on its platform, the Orange County Business Journal reported. It has sold more than $50 billion worth of properties since it was founded a decade ago, according to the publication. Ten-X described the sale as a majority recapitalization. The senior management and prior investors will []

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