Reapit, backed by technology-focused private equity firm Accel-KKR, has announced the acquisition of Inspect Real Estate (IRE), a provider of digital solutions for property professionals.
The move bolsters Reapit’s suite of products and supports its global mergers and acquisitions strategy to integrate and deliver innovative products and services for residential estate agencies of all sizes worldwide.
IRE has a broad portfolio of solutions in ANZ – including IRE One, TenantApp, KeyWhere, and 2Apply – that will have an opportunity to find broader market success when combined with Reapit’s global expertise.
The acquisition also builds on the existing partnership between Reapit and IRE in the UK.
IRE is a long-standing Reapit AppMarket partner, with apps such as the RegisterOnline diary and enquiry management solution and KeyWhere, a real-time key tracking solution.
Reapit group CEO Mark Armstrong said the acquisition deepened Reapit’s commitment to delivering innovative market solutions and ensuring customers had access to all the technology they needed to compete and grow.
“We have already worked with IRE for several years as a partner and have seen first-hand how their solutions benefit Reapit customers,” Mr Armstrong said.
“Combined with our existing technology suite, we will bring together an offering that helps agents achieve further productivity benefits.”
IRE co-founder and CEO Andrew Reece said the opportunity to join forces with Reapit was too good to pass up.
“We have a long history of helping our customers to manage their workloads better, and we were impressed with Reapit’s approach to supporting their customers’ growth with great technology solutions,” he said.
“IRE has always had a strong focus on helping our clients, property seekers and the property industry with our tech – and Reapit shares this approach.
“This new opportunity provides IRE with a great platform to fast-track our growth in the United Kingdom. We want to expand IRE around the world and this opportunity brings us global expertise and a springboard for growth, which is what we’ve been looking for to help us go worldwide.”
Accel-KKR managing director and Reapit director Park Durrett said the addition of IRE into Reapit’s portfolio further illustrated its market-leading position, providing real estate agencies with a comprehensive suite of solutions.
“IRE is a strong brand in ANZ, and we look forward to their continued growth in other markets.”