Aptexx acquired by Property Brands
Deal Synopsis
The company was acquired by Property Brands, via its financial sponsors Insight Venture Partners and Providence Equity Partners, through an LBO in February 2018.
Seller Details
Aptexx is a developer and provider of property management, payment processing, and mobile messaging applications. The company's software enables property managers to communicate with residents, receive status updates and get property survey updates, empowering property managers by reducing resident turnover and increasing the bottom line through integrated mobile rent payments, turn-key resident messaging, mobile maintenance requests, real-time emergency notifications and powerful resident surveying services, cutting out the friction between property managers and their residents.
Buyer Details
Developer of software for property management. The company offers software for property, vacation management, rent payment processing, accounting, distribution channel management, customer relationship management, background screening and renters' insurance to small and medium-sized property managers primarily serving the multifamily, single-family residential, student housing, affordable housing and commercial markets.
Insight Partners is a private equity firm based in New York, New York. The firm seeks to invest in growth-stage technology and software companies.
Providence Equity Partners is a private equity firm headquartered in Providence, Rhode Island. The firm seeks to invest in companies operating in the media, entertainment, communication, education, and information industry sectors.