Propertybase is very pleased to announce it has been acquired by Boston Logic. The partnership acquisition comes as part of a created strategic alliance, with a goal of sharing resources, synergies, industry talent and value between both companies. Both Propertybase and Boston Logic will continue to offer their products and services under their same brands.
The Propertybase / Boston Logic acquisition is the first in a series of planned acquisitions. 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 resources, it’s looking to build real estate tech portfolios through further acquisitions.
The acquisition highlights Providence Equity’s entry (via Boston Logic) into a group of well-established companies, such as Zillow Group and Elm Street Technology, that are building product portfolios to capture more of the real estate industry market share. With this acquisition, Propertybase is now positioned within the global Real Estate CRM space to deliver faster updates to Real Estate CRM features, increased value for clients, and a larger customer service and support presence for new and existing clients. “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.”
Propertybase will also strengthen its U.S. and global footprint for Real Estate brokerages of all sizes. “The new partnership will serve as a first step in redefining the real estate technology landscape, adding new value to clients and partners,” said Max-Michael Mayer, Managing Director & Founder of Propertybase. “By teaming up, we expect to gain significant momentum to leap ahead in the market on a number of levels.”
Both Propertybase Co-Founders, Max-Michael Mayer and Michael Wenglein will remain with Propertybase to lead and grow the company as we move forward. The acquisition will allow both companies to share data and insights, with a goal of helping clients become more proactive in how they leverage smart data analytics for their brokerages. “Combining our resources to achieve even more impressive innovation will benefit the entire industry," said Michael Wenglein, Managing Director & Founder of Propertybase. “No matter what size of real estate business you are running today, between Propertybase and Boston Logic we have the tools to help you grow.”
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