London, UK – February 23, 2021 – Reapit, backed by private equity firm Accel-KKR (AKKR), today announced that they have entered into a binding, definitive agreement to acquire Agentpoint PTY Limited, the largest provider of retail estate agent websites and lead generation technology in Australia. The transaction is expected to close by the end of the first calendar quarter.
The proposed acquisition, once it’s 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. This new addition to Reapit’s award-winning product portfolio will give Reapit customers access to an even wider choice of digital solutions.
Mark Armstrong, CEO, Reapit, commented, “We are poised to incorporate Agentpoint’s outstanding solutions into Reapit’s offer. It is a great company with a comprehensive product set and an unbeatable track record in the market. 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.”
Founded in 2001, Agentpoint is an industry leader in supplying digital solutions to real estate professionals, offices, large network groups and start-ups. Their solutions are scalable, robust and include integrations with leading companies within the real estate space, with designed websites that can be fully integrated into estate agency CRMs.
In recent years, Agentpoint has also made substantial investments into new products, resulting in a range of additional digital marketing solutions which drive, capture, track and convert leads with the agents’ CRM and website at their core.
Ryan O’Grady, CEO, Agentpoint, added, “Our 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.”
The acquisition remains subject to customary closing conditions.
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Founded in 1997, Reapit is a CRM and Client Accounting software provider specialising in the residential real estate sector. Bringing 20 years of innovation to the property market, their award-winning software provides everything estate agents need to run and grow their businesses, from sales to lettings, front office to back office, and everything in between. Reapit’s Agency Cloud and Property Cloud software products include the Sales and Lettings CRM, Property Management and Client Accounts; supported with powerful Analytics and Online solutions. The driving force behind Reapit’s ethos is a commitment to bring all an agency’s data together for a single customer view, and together with its powerful service and training model, the company has helped to grow leading brands. Reapit’s Foundations open platform and App Partner program forms the hub of a PropTech ecosystem delivering tested solutions and increasing choice of tools for agents. Reapit provide software solutions to thousands of users worldwide, managing nearly 180,000 tenancies across more than 4,500 offices throughout the UK and Australia. For more information, please visit www.reapit.com.
About Accel-KKR (AKKR)
Accel-KKR is a technology-focused investment firm with $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit www.accel-kkr.com