Aareal Bank has been a key driver of our success and a strong partner. We will remain closely connected through our joint venture “First Financial” and our joint customers. We wish Aareal Bank AG all the best for the future and look forward to our future cooperation in the new set-up!
Aareal Bank and Advent International to sell Aareon to TPG for approximately € 3.9 billion. As announced recently, Advent and we have entered into an agreement with TPG and CDPQ for them to acquire Aareon, a European provider of Software-as-a-Service (SaaS) solutions for the property industry. The financial terms of the sale are based on an enterprise value for Aareon of approximately € 3.9 billion, valuing Aareal Bank’s equity stake in Aareon at approximately € 2.1 billion. We are pleased to have found new owners for Aareon, who are well positioned to propel Aareon into its next major step of evolution, thanks to their financial strength and pronounced industry experience. Advent will continue its involvement in Aareon with the investment of new equity for a minority interest. Following the transaction, Aareal Bank and Aareon will continue to seamlessly cooperate to support their clients through their joint venture First Financial Software. As Aareal Bank, we will remain the long-term partner to the German housing industry. Closing is expected to take place in the second half of 2024, subject to customary closing conditions and approvals. #Aareal #Aareon #Software #PropertyIndustry #mergersandacquisitions Aareon Group Aareon DACH First Financial Software GmbH collect.AI (an Aareal Bank Group company) plusForta GmbH (Aareal Bank Gruppe)
