A new agreement will see Agentpoint Pty Limited bought out by transnational proptech provider Reapit.
According to a statement announcing the intention, the proposed acquisition, once finalised, “will leverage Reapit’s leading position in the Australian and UK markets to provide a significant expansion opportunity for Agentpoint’s products and technology services”.
Backed by private equity firm Accel-KKR, Reapit said the inclusion of Agentpoint into the Reapit portfolio “will give Reapit customers access to an even wider choice of digital solutions”.
Weighing in on the acquisition, Reapit CEO Mark Armstrong said Agentpoint “is a great company with a comprehensive product set and an unbeatable track record in the market”.
According to him, “Agentpoint perfectly aligns with our mission of giving residential estate agents access to best-in-class proptech solutions that will help them maintain a competitive edge in all market conditions”.
For Agentpoint’s CEO, Ryan O’Grady, the company’s vision “has always been to deliver leading-edge concepts that allow our users to achieve high-end results”.
“The next exciting step on our journey will be with Reapit and their investors AKKR, which will enable us to invest further in product development and quality services for the estate agency industry,” Mr O’Grady said.
According to Reapit, the acquisition does still remain subject to customary closing conditions.