Today, Reapit, with backing from Accel-KKR, announced the acquisition of Console Group Pty Limited, a leading provider of Property Management and Trust Accounting software in Australia and New Zealand. Console has been a trusted provider of software for over 2,800 real estate agencies since 1992. Its flagship product, Console Cloud, is a fast-growing Property Management Software as a Service (SaaS) platform used by over 2,000 businesses since its launch in 2017.
Reapit, which already provides software solutions to over 7,000 offices globally, will leverage Console’s Property Management and Trust Accounting software to broaden its portfolio in Australia and New Zealand. This acquisition will provide a market-first end-to-end real estate solution for the Sales, Lettings and Property Management lifecycle in the region.
Mark Armstrong, Group CEO Reapit, stated, “The property market is currently going through unprecedented change and we have a responsibility to present solutions that are best-in-class, to ensure that our customers can adapt, thrive and grow profitably.
Charlie Holland, currently CEO Console Group, “This is 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.”
The acquisition is subject to customary closing conditions. Park Durrett, Managing Director at Accel-KKR, and a member of Reapit’s board of directors commented on the acquisition and said that it further illustrates Reapit’s market-leading position, providing real estate agencies with a comprehensive suite of solutions.
