TBC Holdings has acquired LocalVox, a marketing automation service, for an undisclosed amount.
LocalVox, headquartered in New York, provides marketing software that aims to help local businesses market on websites, and through local publishers, deal sites, social media, directories, mobile applications and email. The company's software measures and monitors marketing performance and tracks marketing activity to point-of-sale transactions. The company has raised about $10.3 million in debt and venture capital from parties that include Blackstone Group's (Nasdaq: GX) GSO Capital Partners, an asset management group.
TBC is the parent company of the Berry Co., a media company that has been offering LocalVox in several markets. The company is also backed by affiliates of GSO Capital.
Other recent software acquisitions include TA Associates investment in Idera, which makes performance-monitoring software, and Blackbaud (Nasdaq: BLKB)'s purchase of MicroEdge, which makes software for non-profits.
For more on investing in the software space, see Plugging into Software.