Reapit has announced that it is to embark on a significant buying spree to acquire other companies following the decision by its CEO Gary Barker to step down.
As we reported yesterday, Barker is to join Launch B, a new proptech start-up set up by Purplebricks founder Michael Bruce due to launch officially later this year, although more details are expected in the next few weeks.
But Reapit has come out fighting following Barker’s departure, aware that its success in recent years has been attributable in part to Barker’s energy and drive.
The company says expansion will now come from organic and strategic mergers and acquisitions activity.
Although no date has been set for Barker’s departure from Reapit, he is to hand over the reins immediately to interim CEO Adrian Gill while the search for a new leader is completed.
“I am extremely proud of everything we’ve accomplished as a team at Reapit,” says Barker. “We have grown from a regional solution to a global player that, through industry-leading solutions like the Foundations platform, has brought unmatched innovation to how estate agencies run and grow their businesses.
“To that end, we have never stopped championing better, more open proptech solutions for estate agents and through the innovation of Foundations for example, have done exactly that. Now there is an opportunity for me to do that again with another brand.
“To me, this is not goodbye as I will not only remain as a supportive shareholder of Reapit, but my new company has already signed up to Foundations. The PropTech revolution is now in full swing.”
Reapit has won The Negotiator’s Gold Prize at The Negotiator Awards for “Best Agency Software” for three consecutive years.