Lone Wolf Technologies, a leader in residential real estate software, announced today that it has acquired zipLogix™, a leading provider of transaction management, electronic forms, and eSignature solutions for the real estate industry.
Previously, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) was the majority owner of zipLogix™, owning roughly two thirds of the company. C.A.R. decided to sell zipLogix™; and the National Association of REALTORS® (NAR), as a minority owner, concurred with that decision.
NAR believes that the combination of these two firms, Lone Wolf and zipLogix™, will accelerate the development of next-generation transaction management products. The acquisition will also improve the technological capabilities and resources of REALTORS®, helping brokers and agents be more efficient and productive and deliver superior customer service.
NAR’s agreement with zipLogix™ to provide its software products free to you, the members of NAR, will remain in force until its expiration at the end of 2020. We believe the financial return on our zipLogix™ investment, as well as the software it has provided to help you be effective and efficient in your real estate business, has demonstrated the value of strategic investments in technology. When the agreement expires, we will have the option to renegotiate it or seek other software options that serve your needs.
Due to confidentiality agreements that were a part of the purchasing contract, NAR cannot discuss the sale price. See additional information about the acquisition below.
Read the press release from Lone Wolf about its acquisition of Ziplogix.
1. What is Lone Wolf Technologies?
Lone Wolf Technologies, a Vista Equity Partners portfolio company, is the North American leader in residential real estate software, serving more than 700,000 REALTORS® across the U.S. and Canada. The company offers an ecosystem of technology products designed to simplify the entire transaction process, including software for back office and transaction management. Each element of this ecosystem enables brokerages and agents to operate more efficiently, reduce costs, and increase opportunities for profitability. Key products include TransactionDesk, Authentisign, and InstanetForms.
2. What is Vista Equity Partners?
Vista Equity Partners is the parent company to Lone Wolf Technologies. Vista Equity Partners is an investment firm with more than $46 billion in cumulative capital commitments. Vista exclusively invests in software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support toward companies to help them realize their full potential.
3. What is zipLogix™?
For more than 20 years, zipLogix™ has been providing real estate professionals with a suite of innovative software solutions including their industry-leading real estate forms software, zipForm® Plus, and transaction management system, zipTMS™.
4. How does zipLogix™ currently work with the residential real estate industry?
zipLogix™ works closely with local and state real estate associations as well as the National Association of REALTORS® (NAR) to ensure forms are available for members throughout their suite of products. They provide a range of licensing and partnership opportunities, as well as complete marketing and sales support to those associations.
6. Who had been the owners of zipLogix™?
The California Association of REALTORS® (C.A.R.) was the majority owner of zipLogix™, owning roughly two thirds of the company. NAR was a minority owner, along with a handful of other state and local REALTOR® associations.
7. Why did NAR sell zipLogix™ to Lone Wolf?
C.A.R. is the majority owner of zipLogix™, owning roughly two thirds of the company. It was ultimately C.A.R.'s decision to sell zipLogix™ to Lone Wolf, and NAR concurred with that decision. Lone Wolf Technologies and zipLogix™ have similar missions: to reduce costs for brokerages and REALTOR® members, increase operational efficiencies, and enhance opportunities for member profitability. We believe the combination of these two companies will accelerate the development of next-generation transaction management products that will ultimately help REALTORS®. This kind of technological advancement would have been far more difficult to achieve under the ownership of C.A.R. and NAR.
8. How will the acquisition affect the NAR member benefit?
There will be no change to the NAR member benefit. The benefit for members will continue as is through 2020 under the existing terms. In fact, as Lone Wolf and zipLogix™ begin to integrate platforms, we expect to be able to enhance the benefit through the more sophisticated solutions that the combined company will be offering its customers.
13. What are reserves used for?
Reserves are one measure of an organization's health. They provide a financial cushion to deal with unforeseen circumstances or opportunities.
