Aquiline-backed Elm Street Technology buys IDX Broker

Elm Street Technology LLC, which is backed by Aquiline Capital Partners LLC, has acquired Eugene, Oregon-based IDX Broker, a provider of real estate search applications and marketing solutions.

Elm Street Technology LLC, which is backed by Aquiline Capital Partners LLC, has acquired Eugene, Oregon-based IDX Broker, a provider of real estate search applications and marketing solutions. No financial terms were disclosed. Vaquero Capital served as financial advisor to IDX Broker on the deal.

PRESS RELEASE

DALLAS, June 24, 2020 /PRNewswire/ — Elm Street Technology, LLC (“Elm Street Technology”), a leading real estate technology and marketing solutions provider to the residential real estate industry, today announced the acquisition of IDX Broker, LLC, a provider of real estate search applications and marketing solutions. The acquisition of IDX Broker and its solutions for real estate professionals complements Elm Street’s Elevate platform that provides real estate technology and marketing services.

“We’re excited to have IDX Broker and its talented team join Elm Street Technology, which will help power the next stage of our growth,” said Prem Luthra, President and CEO of Elm Street Technology. “For over 17 years, IDX Broker has been serving tens of thousands of real estate customers with high-quality, innovative products and top-shelf customer support. With a common corporate culture, we expect the integration of our two companies to be seamless and we look forward to adding their products to our growing suite of services, which will have meaningful benefits for both companies’ customers.”

Elm Street Technology offers a simplified platform called Elevate, for real estate technology and marketing services, that aims to provide a single vendor and point of contact to maximize real estate professionals’ business efficiency. The Elevate platform is currently used by tens of thousands of real estate agents, teams and brokerages across the United States. It offers a variety of seamlessly-integrated tools including IDX websites, lead generation services, CRM, email, social, text and blog marketing automation, recruiting and retention campaigns, and more, all backed by comprehensive customer support and training.

“We’ve listened to our customers and their desire to have a single point of contact and vendor for all of their marketing services, and now we are excited to be able to join the Elm Street Technology team to fulfill this request,” stated Chad Barczak, Chief Executive Officer of IDX, LLC. “Elm Street Technology has been executing on its mission to create an end-to-end solution with their Elevate platform and I believe it’s quickly going to lead the space. We’re thrilled to combine forces, company cultures and our mutual passion to be a part of this vision.”

Earlier this year, Elm Street Technology announced a strategic investment from Aquiline Capital Partners, a private investment firm based in New York and London investing in businesses across the financial services sector in financial technology, insurance, investment management, business services, credit and healthcare. The acquisition of IDX Broker, LLC is the first acquisition announcement of 2020. Past acquisitions have included companies such as eMerge, AgentJet, Listingbook, RLS2000 and Consolidated Knowledge.

Vaquero Capital served as the exclusive financial advisor to IDX Broker.

About Elm Street Technology, LLC:
Elm Street Technology offers a growing portfolio of real estate technology and marketing services with the goal of providing one vendor and one point of contact, fully fused into one singular platform – Elevate – to capture and nurture more leads into closed business. Elevate allows busy real estate professionals the ability to streamline and automate their marketing and day-to-day business objectives by offering high-end IDX websites, lead generation tools, a powerful CRM, email, social, text and blog marketing automation, recruiting and retention tools, and more. For more information, please visit tryelevate.com.

About IDX Broker, LLC:
Based in Eugene, Oregon, IDX Broker, LLC is nationally known as a leading provider of real estate search applications. IDX Broker, LLC actively manages over $1 trillion worth of active listings data from over 600 individual Multiple Listings Services (MLS). IDX, Broker, LLC provides integrated IDX software, customizable listing search utilities and lead management tools for real estate-based websites. For more information, please visit idxbroker.com.

About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in businesses across the financial services sector in financial technology, insurance, investment management, business services, credit and healthcare. The firm has $5.3 billion in assets under management as of December 31, 2019. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.