MagicBlocks Acquired by Beeline | Technology M&A Deal

Beeline has entered into a letter of intent to acquire MagicBlocks, a enterprise software business in Rhode Island, for $1 million. Beeline acquires MagicBlocks to expand AI-driven real estate technology for transaction lead generation, production automation, and workflow systems used by financial services and real estate teams. MagicBlocks’ platform supports Beeline’s chatbot, Bob, which has improved lead-to-lock conversions without incremental customer costs on Beeline’s website in Providence. The add on acquisition is a strategic acquisition by Beeline, which already owns about 47.6% of MagicBlocks and seeks to purchase the remaining interest, subject to a definitive agreement, special committee approval, SAFE noteholder approvals, and founder employment agreements.