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ASG wraps up Homebot deal
Posted on Friday, 26 June 2020 11:06
Alpine Investors-backed ASG has acquired US-based Homebot, a provider of mortgage lending and real estate software services.
Financial details were not disclosed.
Headquartered in Colorado, Homebot’s portal focuses on maximising repeat and referral business for lenders by encouraging consumers to build wealth through homeownership.
The group provides personalised and actionable data for clients throughout the whole homeownership life cycle.
Its technology also allows real estate agents to add customers to their Homebot account, strengthen their branding and close more deals through word of mouth and referrals.
The target serves thousands of loan officers nationwide and achieves a monthly engagement rate of around 50.0 per cent across millions of homeowners.
Following the transaction, Homebot’s current leadership team, including Ernie, Ira and Michael Lynch, will continue to lead the business.
Mark Strauch, co-founder of ASG, said: “They’ve [the target] created a software solution that empowers homeowners with personalised financial insights while facilitating engagement with their loan officer and real estate agent.
“Homebot marks our first expansion into residential real estate software and we look forward to continuing their already impressive growth.”
As a result, ASG will delve into the US homeownership market which is valued at USD 30,000 billion, according to the press release.
The California-headquartered buyer is a software business which buys, builds and operates vertical software-as-a-service companies.
ASG’s portfolio includes businesses across the hospitality, behavioural health and education sectors, among others, such as Exym, KidKare and Transcendent.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 1,983 deals targeting software publishers announced globally in 2020 to date.
Insight Holdings Group snapped up Cyprus-based Veeam Software Holding for USD 5.00 billion in the largest of these.
This was followed by OptumHealth acquiring a 55.0 per cent stake in naviHealth for USD 2.50 billion.
Other companies targeted in this sector include Compuware, ForeScout Technologies and Grab Holdings.
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