Press > Press releases > 2021
Aareon sells minority stake in Immomio
Aareon has decided to sell its minority stake in Immomio GmbH as it realigns its product portfolio centred on the digital letting process.
Mainz, 1 September 2021 – Aareon, Europe’s leading provider of property software, has sold its 15.2% stake in Hamburg-based proptech company Immomio GmbH to W&W brandpool GmbH of Stuttgart. The contract was signed on 31 August 2021.
The cooperation between Aareon AG and Immomio GmbH, established in 2017, remains unaffected by the sale of the minority stake.
Dr. Manfred Alflen, Chairman of the Management Board of Aareon AG: “We’re currently realigning our product portfolio centred on the digital letting process, and in doing so, we have decided to sell our minority stake in Immomio. We will, however, remain cooperation partners in the future.”
About Aareon
Aareon is the leading provider of ERP software and digital solutions for the European property industry and its partners. The Aareon Group offers pioneering and trusted software solutions to optimise business processes and business model development. Around 3,000 clients of the technology leader manage more than 10 million units across Europe. The Aareon Group is an international company with offices in the DACH region, Finland, France, Great Britain, the Netherlands, Norway and Sweden. Aareon operates its own development company in Romania. The Aareon Group employs over 1,800 people, with more than one-third based in its international subsidiaries. In 2020, Aareon generated revenue of around €258 million and adjusted EBITDA of €62 million.
About W&W brandpool
W&W brandpool GmbH is a member of Wüstenrot & Württembergische Group (W&W Group) and bundles the Group’s new digital activities. W&W brandpool GmbH is investing in innovative digital business models across the areas of housing, finance, health, family, education and mobility.
About Immomio
Immomio is a digital end-to-end solution for the letting process that offers fully digital workflows – from marketing and prospect management all the way to the digital rental contract. Among Immomio’s customers are cooperatives, housing companies, property managers and estate agents, which manage around 800,000 residential units across Germany.