Greensboro, North Carolina, real estate technology company Elm Street Technologies has acquired email marketing and advertising software provider OutboundEngine, based in Austin, Texas.
Elm Street made the announcement in a press release sent to Inman.
OutboundEngine will enhance Elm Street’s Elevate solution, an omnichannel system that augments lead generation, web marketing, client collaboration, sales and operations.
Elm Street also offers a range of stand-alone lead-generation, digital marketing and brokerage management products.
“OutboundEngine was an early leader in the all-in-one lead capture and conversion space, a model that’s based on developing a website in conjunction with collaborative outbound marketing,” Inman reported in 2019.
The heavily mobile-forward software connects email marketing to landing pages and other forms of online content, helping agents roll out cohesive and easily measurable digital campaigns.
Elm Street Technology founder Prem Luthra
Elm Street Technologies has been on a buying spree of late, this being its fifth purchase of 2021, after announcing in July the simultaneous purchase of CRM IXACT Contact and marketing company, Morris Marketing.
Back in January it acquired both transaction automation company Flow ROI and automated appointment setter VoicePad.
Elm Street has acquired 10 companies since its founding in 2016.
The recent growth spurt is rooted in a 2020 capital investment in Elm Street made by Aquiline Capital Partners.
“Aquiline is the perfect partner to help Elm Street Technology accelerate its growth strategy,” President and CEO of Elm Street Technology, Prem Luthra, said at the time. “With Aquiline, we will be able to broaden and accelerate our sales and marketing capabilities, enhance product development and increase our focus on strategic acquisitions.”
OutboundEngine’s features will find their way into an effort to explore penetrating ancillary markets in 2022, such as mortgage and lending, Luthra mentioned in the release.
Financial terms and specific employment decisions were not disclosed, though Luthra did say Elm Street will be welcoming OutboundEngine’s “entire team.”
“We are in a time of sweeping digital change and customer-focused product evolution,” stated Marc Pickren, CEO of OutboundEngine in the release. “OutboundEngine’s ability to align with a progressive and forward-thinking company like Elm Street Technology will empower us to evolve our products and services at an aggressive pace that’s never been seen in the real estate sector.”
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