USA: Advancing its mission to empower decision makers through every step of the real estate workflow, LightBox today announced the acquisition of two leading companies.
- Real Capital Markets (RCM), a global marketplace for commercial real estate; and
- Digital Map Products (DMP), a location intelligence and mapping platform.
RCM and DMP join LightBox, a company whose objective is to provide real estate professionals with greater transparency, efficiency and insight at every decision point. LightBox was formed in 2018 when technology investment firms Silver Lake and Battery Ventures acquired EDR, the leading provider of environmental due diligence information. The EDR, Collateral360 and RIMS platforms are workflow software solutions for due diligence, appraisals and compliance. With RCM and DMP, LightBox adds important marketplace and location intelligence capabilities to its integrated set of solutions.
“We are very excited to add the new capabilities and talented teams from RCM and DMP to LightBox. We believe with the right intelligence, workflow software, industry data and analytics, the real estate decision-making process can be exponentially improved,” said Eric Frank, Chief Executive Officer of LightBox. “We’re partnering with our clients to connect key segments of the ecosystem – banks, brokers, environmental firms, land developers, builders, appraisers, buyers and more – to the right real estate technology, tools, information and to each other.”
Steve Shanahan, Executive Managing Director of RCM, added, “LightBox is the ideal platform for RCM’s clients and employees, as we continue to invest aggressively in the breadth and depth of our solutions. LightBox’s experience and relationships with various constituencies across the real estate technology landscape will only accelerate our strategy and product roadmap.”
Jim Skurzynski, Founder and CEO of DMP, commented, “We know from our long history of collaboration with EDR, a respected LightBox brand, that joining LightBox is a terrific opportunity to take DMP to the next level for clients and employees. As part of LightBox, DMP’s cloud-based location intelligence solutions like LandVision and our SpatialStream web service/API will play even more important roles in the real estate marketplace and beyond.”
LightBox CEO Eric Frank concluded, “Through significant organic investment and acquisitions, we’re combining respected brands, innovative technologies and meaningful industry data to serve a blue-chip real estate client base. We’ll continue to evaluate future opportunities that will help us expand our ability to deliver much needed transparency, efficiency and insights for our clients.