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Industry News

First American acquires real estate tech company

June 6, 2006

Sonic Eagle offers business management and agent productivity tools

Inman News

First American Residential Group, a member of The First American Corp. family of companies, announced this week that it has acquired Sonic Eagle Inc., a California-based real estate technology company. Terms of the transaction, which closed May 23, were not disclosed.

Stephen C. Roney, president and CEO of First American Residential Group, said in a statement, "The acquisition of Sonic Eagle enhances our Realtor-focused technology platform with key functions that allow us to provide a complete business management solution to brokers that cannot be found elsewhere. This will help further position First American as the technology provider of choice for broker customers who desire an end-to-end solution that seamlessly integrates all of the most popular real estate technologies under a single sign-on application."

Sonic Eagle, now a subsidiary of First American Residential Group Inc., offers AgentAchieve, a Web-based system that provides broker business management and agent productivity tools. The system includes customer relationship management tools, messaging and lead management, internal and external broker and agent Web sites, template-driven marketing, multiple listing service data access, and integrated eCommerce tools. "First American will incorporate AgentAchieve into its existing offerings to form a complete, enterprise technology solution for real estate professionals," the company announced.

In May, Sonic Eagle announced that it has integrated its property-search tools with Microsoft's Virtual Earth mapping technology.

Sonic Eagle, founded in May 2002, will continue to operate from its headquarters in Pleasant Hill, Calif., under the direction of the company's current management team led by Harper Thorpe, who currently serves as president and CEO. Thorpe will report directly to Roney.

"Broker customers are seeking a technology provider who is also a strategic partner, and can scale the performance of its software and services as the broker grows or new technologies become available," Thorpe said in a statement. "This acquisition creates exciting opportunities for us to take this technology to the next level."

Copyright 2006 Innam News

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