The aggressive move is mortared by a dowry from last week's merger with Photonics Corp., based in Sunnyvale, CA. Directors for the merged company, which remains headquartered at Lakeside Square, 12377 Merit Drive in Dallas, meet Thursday to discuss which or all of the six proposed buyouts will result in tender offers, Chip Langston, REpipeline's CFO told GlobeSt.com. The 2001 acquisition list stretches from Portland, OR to Dallas plus includes a firm in Toronto. In mid-July, REpipeline had replaced Photonics as the buyer for a planned take-over of RealEstate4Sale.com.
"There are no sticks and bricks," says Langston. "We're just trying to tie all the pieces of the puzzle together." REpipeline's motive is to develop a one-stop shop with e-real estate operations for listings, property management, software, databases and market reports. REpipeline had launched its service Nov. 28 in Dallas.
The Photonics merger not only will finance the buyouts, but also will take REpipeline to a public status. Photonics, a publicly held company since 1986, will have its name and ticker symbol changed.
Through REpipeline's reverse auctions, a request for proposal can be let for most any building phase, including finish out. REpipeline has a database of more than 400,000 providers for the commercial real estate industry, 37,000 of which are located in North Texas.
REpipeline had started out in the summer of 1999 as a property-listing concept. The scope has been broadened to an all-encompassing IT service corps, says Langston. Target markets include developers to institutions. What the Internet can't do is replace a requirement for legal notices in newspapers of general circulation for projects that exceed mandated ceilings. But, it can provide "one more exposure point ... and broader," emphasizes Langston.
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