PropTech Group (PTG), a leading provider of software solutions for the real estate industry in Australia, New Zealand, and the United Kingdom, has completed the acquisition of Eagle Software Pty Ltd. The acquisition, which was made on a cash and debt-free basis for AUD$7.5 million, bolsters PTG’s real estate CRM capabilities, bringing its estimated share of CRM to about 38% in the Australian and New Zealand markets.
According to PTG managing director Joe Hanna, the acquisition is in line with the company’s aim to improve the real estate industry with leading technology. The addition of Eagle’s product offering supplements, in particular, PTG’s VaultRE product.
Co-founder and CEO of Eagle Software, Luke Paverd, expressed excitement about joining the PTG family, noting that the new arrangement would provide synergies that allow them to deliver more value to existing customers and offer their software and services to a broader market.
The acquisition of Eagle Software advances PTG’s objective to own, operate, and invest in high-quality property technology businesses that primarily focus on the Australian, New Zealand, and United Kingdom residential and commercial real estate markets. This acquisition provides PTG with a larger customer base, strengthening relationships within the real estate industry and allowing PTG to offer more products to its customers.
