The global property CRM provider has welcomed a new regional chief executive into the group as it adds yet another local software provider into the fold.
Correction: An earlier version of this article stated that the Reapit Group is now reportedly worth approximately $80 million. This is incorrect. The group's revenue is now approximately $80 million.
Reapit has revealed its acquisition of Console Group through the backing of private equity firm Accel-KKR.
Console Group is best known for its flagship product Console Cloud, which boasts more than 2,000 businesses on the platform since 2017.
A statement from Reapit has noted that the latest acquisition “broadens the current Reapit portfolio, including Agentbox and Agentpoint, to provide a market-first end-to-end real estate solution for the complete real estate life cycle in the ANZ region”.
The current CEO of Console Group, Charlie Holland, will take on the role of regional CEO of Reapit ANZ.
Speaking on behalf of Console Group, Mr Holland called the software provider’s addition into the Reapit suite “an exciting step on our journey”.
“Reapit and Accel-KKR’s acquisition of Console will provide unprecedented opportunities to further accelerate innovation and value to customers and I look forward to leading Reapit ANZ as regional CEO,” he expressed.
The global proptech company also revealed it now counts more than 50 per cent of real estate agencies as customers, with Reapit Group CEO Mark Armstrong explaining that the business has “a responsibility to present solutions that are best-in-class”.
He said: “The acquisition of Console reaffirms Reapit’s commitment to delivering innovative solutions to the market, extending on Agentbox CRM and Agentpoint digital marketing solutions with property management software – Console Cloud.”
Reapit is a provider of software solutions to over 7,000 offices and supports the management of more than 225,000 tenancies worldwide. With the inclusion of Console, the Reapit Group is now approximately an $80 million revenue business on a pro forma basis.
Correction: An earlier version of this article stated that thanks to the procurement, the Reapit Group is now reportedly worth approximately $80 million. This is incorrect. The group's revenue is now approximately $80 million.
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Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.