Boston Logic, a provider of real estate brokerage software, has gulped down customer relationship management system (CRM) Propertybase, marking the first in a series of planned acquisitions. Boston Logic CEO David Friedman declined to disclose terms of the deal, other than to say that Propertybase will retain all of its employees. Boston Logic became Providence Equity’s “platform for acquisition” of real estate software after the private equity firm, which has $50 billion in capital under management, made an undisclosed investment in Boston Logic last year. Drawing on Providence Equity’s deep pockets, it’s looking to build real estate tech portfolios through acquisitions — a goal shared by some other well-heeled firms like Zillow Group. “We are looking at a lot of opportunities out there,” Friedman said. “Price does not scare us away.” Boston Logic was attracted to Propertybase because of its global reach and effective use of the Salesforce platform. Propertyba…
Source: click here
Loading ...