PropTech Group acquired by MRI Software for $93.4 million

MRI Software, a global provider of real estate software solutions, announces its $93.4 million stock acquisition of PropTech Group (ASX:PTG) is now complete.

The highly anticipated deal, first announced last year, secured approval from the Australian Competition and Consumer Commission (ACCC), Foreign Investment Review Board (FIRB), and Federal Court of Australia earlier this month.

The property technology (PropTech) industry has experienced extraordinary growth in Australia with an influx of new providers and innovation over the last several years. In acquiring PTG, MRI complements and strengthens its MRI Living™ suite of residential sales and property management solutions.

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