Boston Logic, a provider of software, online marketing and design services to real estate companies, announced Thursday that it acquired Propertybase, a provider of real estate CRM and marketing software that boasts clients in 60 countries.
Under the terms of the deal, Propertybase’s management and team of 48 employees will continue in their current roles with the company.
According to details provided by the companies, the combined company will continue to provide both the Boston Logic and Propertybase products.
Boston Logic’s platform combines CRM, websites, content management, marketing automation and data management into one platform for real estate companies to manage their leads and digital marketing, while Propertybase operates a CRM system built on the Salesforce platform.
The companies say that by working together, each is positioned to “attract top industry talent, while simultaneously creating additional value and expanding their US and global footprints to real estate brokerages and teams of all sizes.”
For Boston Logic, the deal represents its first acquisition since Providence Equity backed the company in late 2016.
“The Propertybase team has built an impressive product and a global business,” said David Friedman, CEO of Boston Logic. “The platform has numerous CRM and marketing features tailored for real estate, and their seamless integration with Salesforce presents opportunities for its users that cannot be matched by other products.”
Michael Wenglein, the managing director and founder of Propertybase, said that combing the two companies resources will help spur innovation, which will benefit the real estate industry.
“This acquisition will significantly expand our market penetration and user network on a global scale, and will further consolidate our position as a leader in the market for cloud-based sales marketing solutions for the real estate industry,” Friedman concluded.
Financial terms of the deal were not disclosed.