IPMG, the owner of Homehound, has acquired ReNet, which provides CRM, front office and workflow software to real estate agents.
Homehound general manager Boris Gefter told Real Estate Business that both businesses will benefit from the new partnership.
Homehound will provide ReNet with greater brand recognition and consumer intelligence, while ReNet will help Homehound broaden its industry knowledge, he said.
Mr Gefter said that agents wouldn’t see any immediate impact from the deal, but could eventually expect to see more data coming through into their feeds.
“Homehound has long tried to disrupt the real estate space and I think this is a really great opportunity for that to happen,” Mr Gefter said.
The deal reflects the long-standing passion for real estate that is shared by IPMG executive chairman Michael Hannan and chief operating officer James Hannan, he said.
“They own many, many properties, both commercial and residential,” he said.
“I know that Michael and James both really love the space and want to do more in it.”
The deal will see ReNet chief executive Scott Schindler also take charge of Homehound.
Mr Gefter declined to reveal the value of the acquisition.
[Related: Homehound calls for more competition]