Teke Wiggin for Inman News:
Boston Logic buys Propertybase, with more acquisitions in sight
“Boston Logic CEO David Friedman declined to disclose terms of the deal, other than to say that Propertybase will retain all of its employees.
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 deep pockets, it’s looking to build real estate tech portfolios through acquisitions — a goal shared by some other well-heeled firms like Zillow Group.
“We are looking at a lot of opportunities out there,” Friedman said. “Price does not scare us away.”
Boston Logic was attracted to Propertybase because of its global reach and effective use of the Salesforce platform.”
Consolidation is happening everywhere. On a side note David Friedman was my very first guest on my Listing Bits podcast. You can listen to it here.
