Real Estate Data Firm Buys Two
In the US, real estate intelligence firm LightBox has acquired two companies working in the sector, global marketplace Real Capital Markets (RCM) and location intelligence and mapping platform Digital Map Products (DMP).
The RCM acquisition is already closed, and DMP should follow 'in the coming weeks', subject to certain customary conditions. Terms of the transactions were not disclosed.
LightBox was formed last year when tech investors Silver Lake and Battery Ventures acquired real estate data and software business EDR from UK-based newspaper publisher and media company the Daily Mail and General Trust (DMGT). The company already offers workflow software solutions for due diligence, appraisals and compliance under the brands EDR, RIMS and Collateral 360.
RCM facilitates commercial real estate (CRE) sales via an online platform, offering integrated property marketing, transaction management, and business intelligence tools to unify broker-level and firm-level data and work flows. Around half of all U.S. commercial assets sold are brought to market using its marketplace, according to the firm.
California-based DMP provides cloud-based location intelligence solutions including the map-based real estate applications LandVision, SpatialStream, SmartParcels and Canadian address service CanMap, as well as a team of consulting professionals.
LightBox CEO Eric Frank (pictured) comments: 'We are very excited to add the new capabilities and talented teams from RCM and DMP to LightBox. We believe with the right intelligence, workflow software, industry data and analytics, the real estate decision-making process can be exponentially improved. We're partnering with our clients to connect key segments of the ecosystem - banks, brokers, environmental firms, land developers, builders, appraisers, buyers and more - to the right real estate technology, tools, information and to each other'. He adds: 'We'll continue to evaluate future opportunities that will help us expand our ability to deliver much needed transparency, efficiency and insights for our clients'.
Web sites: www.lightboxre.com , www.rcm1.com and www.digmap.com .