The Riverside Co. has acquired Think Tech Labs of Austin, Texas, a SaaS-based provider of customer-relationship management (CRM) software for commercial real estate brokerages and brokers, as an add-on to the firm’s Chicago-based SaaS platform company Buildout Inc.
Terms of the deal, the first tuck-in deal for Buildout, were not disclosed.
Buildout, acquired in July 2020, is a marketing and CRM software provider also focused on the commercial real estate sector, making Think Tech an appropriate bolt-on business. Buildout helps clients create marketing brochures, syndicate property listings, update their websites for active listings and monitor buyer activity.
One of Think Tech’s key offerings is Rethink, which helps real estate firms digitize their processes.
“Rethink’s software aligns perfectly with Buildout’s current offering and will provide brokers with an integrated marketing and CRM platform,” said Riverside managing partner Loren Schlachet in a statement. “We’re looking forward to working with the Rethink team to expand Buildout’s software capabilities and customer reach.”
Additional add-ons are being sought for the Buildout platform.
Buildout was the first new portfolio acquisition made by Riverside following the onset of the COVID-19 pandemic last spring that largely paused M&A activity for several months. You can read more about how and why Riverside went for the buildout deal amid the throes of economic turbulence here.
Riverside is a global private equity firm co-headquartered in Cleveland that invests in growing businesses valued at up to $400 million in the smaller end of the middle market.
Website of source
- Colleges That Require Coronavirus Screening Tech Struggle to Say Whether It Works – The New York Times
- Colleges That Require Virus-Screening Tech Struggle to Say Whether It Works – The New York Times
- Gender Equality in Tech (GET) Cities Expands to DC to Diversify the Tech Ecosystem – Yahoo Finance
- Turkey Widens War Tech Hunt by Tapping Pakistan’s China Ties – Bloomberg
- Tech recruiting lessons in the Covid-19 era – Information Age
- Virtual tech event highlights local STEM professionals during WHAT I CAN BE! Tech Career Showcase – Herald-Mail Media
- Accenture’s Tech Push Makes It World’s Most Acquisitive Company – Bloomberg
- Tech Hosts Duke for Senior Night – Men’s Basketball — Georgia Tech Yellow Jackets – Georgia Tech Official Athletic Site
- No. 22/19 Tech set for final home game, takes on Cards – VT hokiesports.com