PropertyTown Acquisition
I’m thrilled to finally be able to announce that we have completed a merger/acquisition deal involving National Relocation and PropertyTown. As is the case with these types of deals, I can’t disclose specific numbers, but I can provide the basic components of the deal:
National Relocation will pay WebGuerrilla, LLC (our parent company) a combination of cash, and a substantial equity stake in exchange for an exclusive license to use any current custom WordPress related tools we own, as well as any new tools we may develop in the future in the real estate space. National Relocation will also take ownership of the PropertyTown domain name, and any brand related items.
We will continue to handle feature development, but will also be getting involved with National Relocation’s team to work on integrating our system with their infrastructure. I’ll be putting Dax and Cesar on a plane to Hawaii in a couple of weeks so they can spend a week with the National Relocation team getting things rolling.
This deal is a perfect fit for us, because it allows us to focus our efforts solely on development. It also provides the tools and support we need to make larger scale broker level deals, as well as access to related markets like rental properties, and mortgage services.
That’s about all I can talk about at this point. We don’t have a hard date to roll out the new service, but our tentative goal is to be ready to re-launch in early June. When we do that, it will contain a ton of new features, including fully integrated IDX, and lead management tools, and a bunch of new competitive/market analysis tools.
