Siegent, Inc. has acquired Rechannel Communications Inc of Miami. Rechannel provides Web site design, hosting, data sharing and leads management systems for the real estate industry.
Siegent plans to use the new capacities to expand its efforts in the online space. The acquisition was funded in part by a cash infusion from Summit Partners, a venture capital firm. A published source put the amount of the infusion at $5 million.
Brian Shapior, president and CEO of Rechannel, is staying with the company. He will serve as the vice president of business development for the eNeighborhoods suite of products.
Boca Raton-based Siegent compiles home and neighborhood information for communities within the U.S.
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