The Australian and New Zealand real estate CRM industry is set to undergo a revolution with ASX listed Real Estate Investar simultaneously acquiring two companies – the market leading MyDesktop from Domain and The Vault Group.
MyDesktop is the leading sales customer relationship management (“CRM”) software for Australian and New Zealand real estate agents. It is used by approximately 30 percent of the market, well ahead of the second-place player.
The Vault Group, established by the original founders of MyDesktop, is a leading provider of the next generation of sales CRM, property management and commercial real estate software for Australian and New Zealand real estate agents.
These operations will be merged to provide MyDesktop customers with a seamless transition to Australia’s and New Zealand’s next generation CRM platform with access to inbuilt property management and commercial real estate functionality.
The combination of MyDesktop and Vault will transform the Real Estate Investar Group into a profitable high growth PropTech company.
Joe Hanna, the Executive Director of Real Estate Investar Group, commented: “We are excited bringing together Australia and New Zealand’s largest CRM system with the next generation of software to provide all real estate agents with a long term, market leading range of residential and commercial sales and property management software.
“Scott Wulf and his team, the founders of the Vault Group, have intimate knowledge of the MyDesktop systems and will be responsible for the merger of the two companies.”
Simon Baker, Chairman of Real Estate Investar Group, commented: “Over the last 12 months, the leadership team, headed by Joe Hanna, has explored numerous acquisition opportunities. The purchase of Real Estate CRM, and thus MyDesktop and Vault, is a transformational moment for the REV Group and establishes it as a serious and profitable PropTech player in the Australian market.
“Real Estate Investar is now well positioned to explore additional acquisition and investment opportunities.”
Real Estate Investar has been suspended from trading on the ASX until the transactions have been finalised and the company re-complies with Chapters 1 and 2 of the ASX Listing Rules.