Fixflo has pledged that it’s business as usual for its lettings agency clients, after news broke that it was to be acquired by a German software giant for an undisclosed sum.
Fixflo currently handles repairs on around 1.2m units for some 1,500 customers, and founders Rajeev Nayyar and Duncan Careless insist the brand will continue with its existing name and activities, despite its acquisition by Aaron AG.
Nayyar describes the news as “the next exciting phase of Fixflo for our customers, partners and team.”
He adds: “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.”
Nayyar says that while the Fixflo name remains it is now “a part of the Aareon family” which should mean “a significant increase in Fixflo’s research and development budget as its solutions form part of the roadmap for the wider Aareon group.”
Aareon AG describes itself as Europe’s leading property software company; it is based in Mainz and earlier this year snapped up small British PropTech operation Arthur.
Dr Manfred Alflen, CEO of Aareon AG, adds: “By acquiring this high-growth 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.”
This post has originally been featured in Letting Agent Today.