INTERNATIONAL

AAREON AG

Foot Anstey advised Aareon AG, a wholly-owned subsidiary of Aareal Bank AG, on the acquisition of 1st Touch Limited, the UK's leading developer of mobile systems for the social housing and public sectors.

The deal saw Germany based Aareon AG, the leading consultancy and IT systems house for the European property sector, invest in its belief in the significant opportunities presented by mobile technology in the property sector across Europe. The move also complemented the Group's other software investments in the sector.

Commenting on the news, Dr. Manfred Alflen, CEO of Aareon AG said; "Following the acquisition, 1st Touch will continue to provide mobile solutions across multiple back office and ERP Housing systems and will become an essential element of our technology strategy, in the UK and the rest of Europe. It is this independence which makes this such a good acquisition for Aareon AG and with the backing that the Group can offer, we are confident that 1st Touch will continue to grow significantly."

Robert Dent, Managing Director of Southampton based 1st Touch echoed Dr. Alflen's comments adding, "This is excellent news for both 1st Touch employees and also for our customers. We look forward to witnessing the first fruits of this very compatible union and therein taking full advantage of the opportunities now available to us."

Duncan Sykes, Corporate Partner at Foot Anstey said: "With 1st Touch recognised as the market leader for supplying mobile technology to the UK social housing and public sectors and Aareon AG's brand strength across Europe, this is an excellent strategic fit. We are delighted to have played our part in this deal."