German real estate software firm Propertybase acquired by Boston Logic

German SaaS firm Propertybase has been acquired by US software company Boston Logic Inc. No terms were disclosed.

The Munich-based company provides CRM and marketing software for the real estate sector with offices in the US and Australia and clients in 60 countries. Boston Logic provides online marketing tools for real estate. This is its first acquisition.

“The Propertybase team has built an impressive product and a global business,” said David Friedman, CEO of Boston Logic. “The platform has numerous CRM and marketing features tailored for real estate, and their seamless integration with Salesforce presents opportunities for its users that cannot be matched by other products.”

Propertybase will retain its 48 employees and management team. It has raised investment from VCs and angels including Neuhaus Partners, High-Tech Gründerfonds, Alexander Brühl, and Christoph Janz.

The acquisition will help further develop the company’s international growth, said Matthias Grychta, managing partner at Neuhaus Partners.

“Through the acquisition, the company can build on its leading position in the market for cloud-based CRM and marketing solutions in the real-estate industry, significantly increase its market penetration and expand its network around the world,” added Markus Kreßmann, investment director at High-Tech Gründerfonds.