It was announced yesterday that Realogy Corporation subsidiary Cartus has acquired Memphis-based Primacy Relocation. The financial terms of the transaction were not disclosed.

"This is a strategic acquisition for Cartus – one that will enhance its domestic operations, substantially broaden its global capabilities, and firmly position it as the leading relocation services provider to the government sector," said Richard A Smith, president and CEO of Realogy. "This acquisition positions Realogy for strategic growth across our international and domestic businesses."

Primacy, which has approximately 700 employees operating in 25 offices located throughout the Americas, Asia and Europe, serves a number of US government agencies and Fortune 500 and 1000, Global 100, as well as smaller emerging-market organisations.

"This acquisition allows us to bring together two of the best providers in the relocation services industry," said Kevin Kelleher, president and CEO of Cartus. "We have long held Primacy in high regard. The combination of the two companies will significantly expand our global capabilities. In particular, it will enable us to re-enter the US government relocation business, which has been an area of historical strength for our company."

Matt Spinolo, who has served as Primacy’s CEO since 1995, will lead Primacy’s operations while reporting directly to Kevin Kelleher. "The Primacy team is pleased to join forces with Cartus, a company that has long been the leader in our industry," said Mr Spinolo. "Cartus enjoys strong financial and operational support from its parent, Realogy, and I look forward to working with Kevin Kelleher to make this transition as smooth as possible for our employees and our clients. We are excited to bring our combined resources, experience and global reach we will have as part of Cartus to our employees and clients around the world."