Constellation Real Estate Group to Acquire TORCHx from Web.com
Acquisition will expand CREG's presence in otherwise fragmented real estate technology market.
The Constellation Real Estate Group (CREG), a leading provider of scalable SaaS products in the real estate industry, will acquire TORCHx from Web.com.
Built with more than 20 years of industry experience, TORCHx offers cloud-based marketing solutions to the real estate industry, providing IDX websites, CRM, marketing software, and lead generation services.
The acquisition of TORCHx will further expand CREG’s presence in an otherwise fragmented real estate technology market, providing sales and marketing solutions, back office software, and mortgage loan origination and servicing solutions for over half of a million real estate agents, brokerages, MLSs, and banks across the U.S. and Canada.
“As real estate agents and brokers explore the right partners for their technology solutions, we are pleased to offer powerful front office and back office solutions through the Constellation Real Estate Group’s support, expertise, and technology,” said Scott Smith, President of Constellation Real Estate Group. “TORCHx has strong product offerings and a solid customer base. We look forward to working with the TORCHx customers in delivering great service and products to help them increase their productivity.”
Acquiring TORCHx aligns with CREG’s strategy of investing in vertical market solutions that benefit the real estate professionals that use them.
“The Constellation Real Estate Group’s deep knowledge of the real estate industry and demonstrated commitment to their vertical software brands make them an ideal partner for TORCHx,” said Sharon Rowlands, CEO and President of Web.com. “TORCHx has an exciting future ahead – joining Constellation will present a powerful opportunity to leverage decades of expertise to benefit TORCHx customers.”
Following the recent acquisition of Mortgage Builder earlier this month, TORCHx marks Constellation Real Estate Group’s second new portfolio business in 2019.