Rocket Companies announced a $1.75 billion deal to acquire Redfin. The mortgage titan hopes to leverage Redfin to take market share.

Dan Gilbert's Rocket Companies plans to buy the online real estate brokerage firm Redfin, a $1.75 billion deal that would expand Rocket's presence in all things residential real estate. The all-stock deal was announced Monday morning and, pending approval by Redfin shareholders, is expected to close in the second or third quarter.

U.S.-based fintech firm Rocket Companies (RKT) has positioned itself as a stronger competitor to Zillow (Z) in the online real estate market

The Detroit-based financial technology group will pay $12.50 for every Redfin share in an all-stock transaction, according to a statement Monday that confirmed an earlier Bloomberg News report. The price represents a premium of 63% over the volume-weighted average price of Redfin’s common stock for the 30 days through Friday.