Rajeev Nayyar, one of EG’s 2017 Rising Stars and founder of property maintenance tech solution Fixflo, has sold his business to Germany-based real estate software company Aareon.
Nayyar said: “This is the beginning of the next exciting phase of Fixflo for our customers, our partners and our team. In the talks with Aareon, we were impressed by the way Aareon would like to support us in unlocking the advantages of a large group of companies, while at the same time giving us the independence and flexibility to be innovative and continue to work in partnership with our customers.”
Aareon chief executive Dr Manfred Alflen added: “With the acquisition of this fast-growing SaaS company in the property management market, we are further expanding our market position in Great Britain. Customers will be able to benefit from our growing product range.”
Fixflo, founded in 2012, offers a SaaS solution that networks property managers, owners, tenants and contractors on a special platform for repair and maintenance management and comprehensively optimises business processes.
Fixflo will continue to operate as an independent company under the umbrella of the Aareon Group but will benefit from a significant increase in its research and development budget.
Nayyar, co-founder Duncan Careless and the entire Fixflo management team will remain with the company.
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