BURLINGTON, Mass., Aug. 1, 2013 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (Nasdaq:BLIN) announced today that it has acquired Elements Local, expanding Bridgeline Digital's presence in the Franchise marketplace.
Located in Central coast California, Elements Local has developed an online marketing SaaS platform for the Franchise marketplace that incorporates brand reputation management tools, web content management, social media, eMarketing, and web analytics.
Elements Local is a respected web platform brand in the Franchise market. Strategically, Bridgeline Digital believes the acquisition of Elements Local will accelerate Bridgeline Digital's time to market into the Franchise marketplace and strengthen Bridgeline Digital's credibility and acceptance in the Franchise marketplace. Elements Local currently has 35 Franchisor customers and over 3,200 Franchises on their web platform. Over the past twelve months Elements Local has experienced a 95% retention rate. Most of Elements Local customers are national Franchise brands such as Sports Clips, MAACO, Glass Doctor, Pearle Vision, Molly Maids, and Mr. Handyman. In 2013 Elements Local is on track to having a record revenue year of over $2 million, of which the majority of this revenue is recurring. To learn more about Elements Local please visit www.elementslocal.comBridgeline Digital acquired Elements Local for $2.5 million, in a combination of cash, common stock, and earn-out consideration based on certain future financial performance. Elements Local founder and Chief Executive Officer, Jeremy LaDuque, has joined Bridgeline Digital as its Sr. Vice President of Franchise and Large Dealer Networks. Jeremy LaDuque is a Certified Franchise Expert and an active member of the International Franchise Association. He was awarded the Pacific Coast Business Times' "Top 40 Under 40" for his professional excellence and commitment to the community. Prior to starting Elements Local, Jeremy LaDuque was the Director of Web Services at Best 1 Internet. "We are very excited about our merger with Bridgeline," stated Jeremy LaDuque, Chief Executive Officer of Elements Local. "We are impressed with iAPPSds, and we believe our customers will be very interested in the strong value proposition the iAPPSds platform provides. It's an impressive and powerful web engagement management product suite for the franchise and large dealer marketplace."