Matt Martin Real Estate Management in Frisco, Texas, has agreed to acquire RealtyBid.com, an online real estate auction company based in Rainbow City, Ala.

The financial terms and expected closing date for the deal were not announced. The purchase would provide MMREM with a web-based platform for real estate asset sales, the company said in a press release Monday.

“This acquisition greatly expands MMREM’s capabilities with a proven disposition platform for owners of single-family residences and commercial assets, and as an enhanced marketing option in foreclosures sales,” said Matt Martin, MMREM’s chief executive, in the release.

No leadership changes were announced. Under the agreement, RealtyBid.com would maintain its brand and operate as a subsidiary.