Dominion Marine Media said it acquired YachtCloser.com.
“This acquisition is a first step in leveraging technology to deliver more value to our industry partners,” Dominion CEO Sam Fulton said in a statement.
“Shared customers will soon have the ability to connect their inventory seamlessly between YachtWorld and YachtCloser, driven from one point of data entry, saving them time and money.”
Dominion said YachtCloser reduces the time yacht brokers and dealers spend filling out paperwork by more than 60 percent, allowing them to enter information only once and populate all forms and documents simultaneously with the click of a button.
YachtCloser has more than 50 standard brokerage forms and contracts available for use, including all standard brokerage agreements, and even state registration and Coast Guard documentation, Dominion said.
"We are delighted to have completed this transaction with DMM and are excited about the opportunity to create a true end-to-end solution for the yacht brokerage and boat dealer industry,” YachtCloser CEO Brad Parker said in a statement.
“As a previous broker and dealer myself, I experienced firsthand the frustrations from managing multiple applications that didn’t communicate with each other. By bringing the industry’s leading administrative and marketing tools together, we can now unify the process. YachtCloser was created to help brokers contract and close more deals, and we look forward to realizing that mission even more.”
The acquisition is the first by Dominion after the company’s recent purchase by funds advised by Apax Partners.