Industry News

RE FormsNet acquires REBT

Acquisition expected to push along paperless transaction

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RE FormsNet, an electronic forms software provider, has acquired Real Estate Business Technologies LLC in a move said to be the next step in transitioning the industry from paper-based to online home-sale transactions. Real Estate Business Technologies, or REBT, owns the RELAY transaction management software, a key piece to online transactions that require less paper. "The acquisition of REBT by RE FormsNet will enable us to take advantage of the economies of scale inherent in operating the two companies as one and will further accelerate meaningful synergies as we move forward," REFN Chairman Robert Bailey said in a statement. "With the company's large customer base in the electronic forms arena, REFN is now well positioned to translate its standing as an industry leader to the transaction management sphere with RELAY." With the addition of REBT, RE FormsNet will have nearly 60 employees, with operations based in Detroit, and development, training and implementation at its Los Angeles...