If you follow Constructech regularly, you know we cover the M&A (merger and acquisition) space very closely. Just last week, we saw a very big acquisition in the residential construction space: ECi Software Solutions acquired Lasso Data Systems.
Before we dive into the details of the latest acquisition in the residential space, let’s look at some of the other big acquisitions that have shaped the construction-technology market into what it is today.
Many of you might remember a big acquisition that happened more than 10 years ago: Builder1440 was acquired by Constellation HomeBuilder Systems, which has acquired a number of companies throughout the years. Builder1440 was an established leader in the CRM (customer-relationship management market) for homebuilders.
As another example, MiTek made a big move when it acquired BuilderMT in 2015, a provider of workflow process management software to the residential homebuilding market, and Sales Simplicity in 2016. The company has a vision to provide an integrated product set to the residential homebuilding market.
Most recently, on December 11, ECi Software Solutions announced the acquisition of Lasso Data Systems, which is a provider of cloud-based CRM software for new home marketing and sales. This comes on the heels of the two companies announcing much tighter integration between the two products earlier this year.
Through the acquisition, Lasso will become part of ECi’s Residential Home Construction Division, and the team will report to Scott Duman, who is the president of this division at ECi Software Solutions.
With the acquisition, ECi has added the CRM solution to its product suite, which includes MarkSystems, its ERP solution, and LotVue, its site map software. The company plans to offer the CRM technology as part of a bundle in the future, as well as a standalone product.
Duman says customers are excited about the integration that already exists—and the tighter integration that will come as a result of the acquisition.
Today, there are many larger companies offering CRM tools, and even CRM tools in ERP (enterprise-resource planning) suite of products. With this acquisition underway, homebuilders will see tighter integration between CRM and ERP.
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