Bellevue, Washington, (PRWeb May 17, 2019) — Perseus Group company Constellation Real Estate Group ("CREG"), a leading provider of scalable SaaSproducts in the real estate industry, announced the successful completion of its acquisition of TORCHx, a provider of cloud-based marketing solutions for real estate professionals, from Web.com on May 16, 2019. CREG announced that ithad entered into an agreement to acquire TORCHx on April 23, 2019.
The acquisition of TORCHx follows CREG’s recent acquisition of Mortgage Builder in April and marks the second in 2019 and 13th in its portfolio of businesses, strengthening CREG’s comprehensive suite of technology solutions for the real estate and mortgage industries.
“The acquisitions of TORCHx and Mortgage Builder expand the breadth of our portfolio into new and existing markets and strengthen our position as the real estate industry’s largest and most secure technology provider,” said Scott Smith, President of CREG. “We are excited to welcome the TORCHx customers into the Constellation Real Estate Group family and we look forward to working with all of them.”
“TORCHx has an exciting future ahead – joining Constellation presents a powerful opportunity to leverage decades of expertise to benefit TORCHx customers,” said Sharon Rowlands, CEO and President of Web.com
Unlike typical private equity firms that consolidate portfolios to sell, the Constellation Real Estate Group has a buy-and-hold investment strategy with a focus on strong solutions and a commitment to being long-term, stable technology partners for the real estate industry. Acquiring TORCHx aligns with CREG’s strategy of investing in vertical market solutions that benefit the real estate professionals that use them.
The acquisition of TORCHx further expands CREG’s presence in an otherwise fragmented real estate technology market, providing sales and marketing solutions, back-office software, and mortgage loan origination and servicing solutions for over half of a million real estate agents, brokerages, MLSs, and banks across the U.S. and Canada.
The Constellation Real Estate Group, which operates as a part of the Perseus Group and is a division of Constellation Software Inc., acquires and invests in real estate software brands that are committed to providing long-term solutions and partnerships with franchises, brokers, agents, MLSs, and banks. CREG provides a suite of market-leading technology solutions designed specifically for the real estate industry through its brands, which include: Market Leader, Constellation Web Solutions, Sharper Agent, Zurple, Z57, Diverse Solutions, Birdview, ReloSpec, Real Estate Digital, Baynet World, Inc., Mortgage Builder, and now TORCHx. Over 500,000 real estate agents, teams, and brokerages across North America rely on CREG’s products and services to power, manage, and grow their businesses.
TORCHx is a best-in-class solution that combines the most important real estate tools essential to the day-to-day activities for real estate agents, teams and brokerages with a focus on lead nurturing and brand identity. The system includes a front-end website that features Multiple Listing Service (MLS) data integration, responsive design, market statistics and more. Real estate professionals can also utilize the integrated customer relationship management complete with lead tracking, email marketing, drip campaigns, automated search updates and other utilities. The team at TORCHx handles the real estate professional’s online marketing, including search engine marketing and lead generation. The TORCHx platform is used by some of the highest producing real estate professionals in the United States.
Since 1997 Web.com has been the marketing partner for businesses wanting to connect with more customers and grow. We listen, then apply our expertise to deliver solutions that owners need to market and manage their businesses, from building brands online to reaching more customers or growing relationships with existing customers. For some, this means a fast, reliable, attractive website; for others, it means customized marketing plans that deliver local leads; and for others, it means customer-scheduling or customer-relationship marketing (CRM) tools that help businesses run more efficiently. Owners from big to small can focus on running the companies they know while we handle the marketing they need.
This story originally appeared on PRWeb.com on May 17th, 2019.
Explore the latest news, insights, and articles from our vertical market investors and operators.
.png){kind=small}
