Toronto-based Constellation Real Estate Group has added another star to its portfolio of SaaS (software as a service) companies for real estate. The company on Tuesday announced it would be acquiring TORCHx, a cloud-based marketing solutions company from Web.com for an undisclosed sum.
Constellation owns a dozen brands that offer real estate software services, including Market Leader, Sharper Agent, Zurple, Z57, Diverse Solutions and Birdview. The company’s most recent purchases include IDX website and marketing company Baynet World and mortgage tech provider Mortgage Builder.
Constellation Real Estate Group President Scott Smith says the acquisition of TORCHx aligns with the company’s strategy of investing in vertical market solutions that would benefit the more than 500,000 agents, brokerages, franchises and banks that use the company’s products.
TORCHx provides IDX websites with paid SEO and PPC (pay-per-click) campaigns, a CRM solution with drip campaigns and lead generation tools, and automated marketing services that include email, text message and property blasts.
“As real estate agents and brokers explore the right partners for their technology solutions, we are pleased to offer powerful front office and back office solutions through the Constellation Real Estate Group’s support, expertise, and technology,” Smith said in a prepared statement.
“TORCHx has strong product offerings and a solid customer base,” Smith added. “We look forward to working with the TORCHx customers in delivering great service and products to help them increase their productivity.”
Constellation has acquired 260 startups across North America and Europe since its inception in 1995, and the company credits its success in acquisitions to a “buy and hold strategy” that allows each company to continue operating independently.
“As far as blending companies, our investment strategy is to allow our brands to run independently,” Smith told Inman after the acquisition of Mortgage Builder in April.
“While we leverage resources and expertise across the portfolio, more often than not, empowering the managers of those businesses to remain in control allows them to keep their customers as a primary focus and driver of their business. ”
Web.com President and CEO Sharon Rowlands said Constellation is the ideal home for TORCHx and she expects the partnership will benefit TORCHx’s user base.
“The Constellation Real Estate Group’s deep knowledge of the real estate industry and demonstrated commitment to their vertical software brands make them an ideal partner for TORCHx,” she said.
