Leading property repairs and maintenance platform Fixflo has been sold to German software giant Aareon for an undisclosed sum.
The Mainz-based property software firm has signed an agreement with London-based firm to buy 100% of its share capital, part of a plan to buy up leading digital suppliers of services to the UK market.
In January this year it bought online property management platform Arthur, which is used largely by corporate and private residential landlord.
But Fixflo is a much bigger fish – it is used to manage approximately 1.2 million property units on behalf of 1,500 clients.
Dr Manfred Alflen, CEO of Aareon AG: “By acquiring this high-growth SaaS company in the market for residential property managers, we are further expanding our market position in the UK. Clients will be able to benefit from our increasing product offering.”
Rajeev Nayyar, CEO of Fixflo (main pic) says: “This is the start of the next exciting phase of Fixflo for our customers, partners and team.
Throughout discussions with Aareon we’ve been impressed by their desire to help us to harness the benefits of scale across their group, but to allow us the independence and flexibility to innovate and continue to work in partnership with our customers.”
Fixflo will continue to operate as an independent company but as a part of the Aareon family and Fixflo customers will benefit from a significant increase in its research and development budget as its solutions form part of the roadmap for the wider Aareon group.
Fixflo co-founders Rajeev Nayyar and Duncan Careless, together with the whole Fixflo executive team, are remaining with the business.