RISMEDIA, Nov. 26, 2008-AgencyLogic, a real estate industry provider of single property websites, announced that they have acquired the single property website provider, Smart Streets in a deal involving cash and future revenues.
According to the company, the acquisition follows six consecutive quarters of record AgencyLogic growth and is part of several initiatives aimed at sustaining the company’s increasing market share into 2009.
“We have spent the year focusing on growth through acquisitions and developing a significantly larger vendor base – a strategy that has worked well for us,” said Stephen Fells, CEO and co-founder of AgencyLogic. “Our vision includes continued growth through similar transactions and substantial expansion of the single property website feature set into other, so far untouched, property services. With more and more residential Brokers marketing to ‘For Sale by Owner’ listed properties, we expect the brand to additionally provide the residential market with a source of valuable leads.”
“The acquisition of Smart Streets and the opportunities it provides with expansion into the FSBO market is further confirmation of our commitment to increasing market share,” said Mark Wayman, CIO and co-founder of AgencyLogic. “Coupled with the recent opening of our California based development office and an increase in technology staff, we now have a more productive, effective and streamlined development process ensuring we can roll out new value-based features quickly and more frequently.”
“We have worked with AgencyLogic for the last year and are very excited to open the Smart Streets brand to a larger marketplace,” said Amanda Guerin, founder of Smart Streets. “This acquisition ensures that Smart Streets clients, present and future, will be able to fully leverage the marketing capabilities of the AgencyLogic Private Label software solution.”