Real Estate

Reapit acquires Australian PropTech property management firm


Reapit, backed by personal fairness agency Accel-KKR (AKKR), has accomplished the acquisition of Console.

Since 1992, Console has been a significant supplier of property administration and belief accounting software program in Australia and New Zealand, with greater than 2,800 actual property companies counting on their software program.

Console’s flagship product, Console Cloud, is a fast-growing property administration Software program as a Service (SaaS) platform, with over 2,000 companies on the platform since its inception in 2017.

Reapit already supplies software program options to over 7,000 workplaces and helps the administration of greater than 225,000 tenancies worldwide. Console’s property administration and belief accounting software program broadens the present Reapit portfolio.

Mark Armstrong, group CEO of Reapit, mentioned: “The property market is at the moment going via unprecedented change. As a number one know-how supplier relied upon by such a big quantity of actual property companies in Australia and New Zealand, we have now an obligation of care to our clients to carry options into our portfolio which can be best-in-class, enabling our clients to adapt, thrive and develop profitably.

“The acquisition of Console deepens Reapit’s commitment to delivering innovative solutions to the market, extending AgentBox’s CRM and AgentPoint’s Digital Marketing solutions with Console Cloud’s property management software.”

Charlie Holland, CEO, Console Group, commented: “This is an exciting step on our journey. Being part of the broader Reapit solution in Australia and New Zealand, and with the backing of Accel-KKR, will provide unprecedented opportunities to further accelerate innovation and value to customers.”

Park Durrett, managing director at Accel-KKR and a member of Reapit’s board of administrators, added: “The addition of Console into Reapit’s portfolio further illustrates its market leading position, providing real estate agencies with a comprehensive suite of solutions.”

 





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