Real estate technology provider Inside Real Estate has acquired fellow proptech firm BoomTown, as first reported by Inman News.
The acquisition closed on Thursday and the financial terms of the deal were not disclosed. The company name will remain Inside Real Estate.
“We’re bringing these two industry leaders together, and we’re pumped about it,” Joe Skousen, the founder and CEO of Inside Real Estate, told Inman. “We’ve observed and respected each other for years, and it’s certainly not the first time I’ve thought these companies would make sense if together. The DNA of the companies really lines up.”
Through this acquisition, Inside Real Estate will grow to a total of 700 employees and will serve more than 500,000 clients.
According Skousen, Inside Real Estate’s goal of being the No. 1 technology partner to real estate brokerages, teams and agents has not changed.
“What was so attractive to us about BoomTown, what stood out to me for years, was that same shared [mindset],” Skousen said. “That’s the fundamental reason, the desire to create that end result.”
Inside Real Estate is best known for its kvCORE platform, which made headlines in recent months after RE/MAX began offering the platform to its agents after shutting down its proprietary platform, booj.
This is just the latest acquisition for Inside Real Estate, which announced the acquisition of SaaS platform AmpStats in late October 2022. The announcement came just a few weeks after Inside Real Estate released CORE Home, its homeownership technology, which is exclusively available to customers of kvCORE.
A public announcement of Inside Real Estate’s acquisition of BoomTown will occur on Tuesday at Inman Connect New York.