Aareon to acquire a 93% stake in Momentum Software for $176m.

Aareon, a firm providing business consulting services on a contract or fee basis, agreed to acquire a 93% stake in Momentum Software, a provider of web-based software, for $176m. "The acquisition of Momentum is another milestone in Aareon's international growth strategy. Momentum has a strong SaaS property management software that complements our digital ecosystem Aareon Smart World. The acquisition also supports our ambition of becoming a SaaS company with a growing share of recurring revenue. Together with Momentum, we will be a strong partner for the property industry in Sweden, Norway and Finland," Harry Thomsen, Aareon CEO.