Posted on May 23, 2019 by staff

London PropTech acquired by US software firm


MRI Software, a US firm providing real estate software solutions, has acquired London-based Engage Property Technology.

The firm, which provides self-service online portals, is currently used by a range property organisations.

The acquisition is said to strengthen MRI’s end-to-end offering for the residential sector and furthers its aim of delivering real estate technology solutions.

Online resident portals are at the core of Engage’s offering, which includes applications for concierge, community, leaseholder, landlord and lettings requirements.

Engage, already an established partner of MRI, first integrated with the company’s Qube Property Management solution more than two years ago, and joint clients include several leading UK residential players.

The acquisition is said to enable MRI to bolster existing integrations between its back-office solutions and Engage’s online portals.

“Residents today expect the highest levels of service and to be treated less like mere renters and more like community members,” says Dermot Briody, MRI’s Executive Managing Director, Europe.

“This acquisition enhances our offering to UK clients and brings additional expertise in user experience and consumer-facing apps that will benefit MRI globally.”

Mitesh Patel, Engage’s Chief Executive, added: “It will now be even easier for residential landlords and housing associations to deploy Engage portals integrated with MRI’s property management and accounting solutions, linking data from both ends and delivering more effective customer service to residents”

“The nature of the UK rental market is changing, and landlords and property managers need to be able to evolve with it,” Briody said.

“What most need today is a scalable solution that meets the needs of both those just entering the Build-to-Rent market and those that already own and manage extensive multi-unit rental holdings – allowing them to build stronger relationships with tech-savvy Generation Rent, more of whom are looking to live, work and play within their communities.”

The Engage acquisition follows the launch of MRI Agency Solutions in March, which brought together the company’s sales and lettings technology brands in the UK into one combined offering, following a series of key acquisitions.