X marks the spot for safety software firm takeover
London-based European property technology platform, Plentific, has acquired Liverpool-based X Tag, formerley Gas Tag, for an undisclosed sum.
X Tag provides technology solutions that allow housing providers to move away from reactive compliance processes into proactive, data-driven approaches.
With the acquisition, Plentific’s platform will be the only end-to-end SaaS-enabled marketplace solution providing integrated repairs, maintenance, and compliance services in the UK and Germany.
Founded in 2014, X Tag works with more than 50 social housing providers, local authorities, lettings agents, and property managers.
X Tag’s gas safety, electric and fire door compliance solutions allow customers to collect data from servicing, repairs, and maintenance activities in real-time through a central portal.
With instant oversight of the safety status of a property portfolio, it provides transparency, accountability, and assurance that all the necessary steps have been taken to ensure real compliance and to keep tenants safe.
X Tag’s product suite will be integrated into the Plentific platform, providing landlords and property managers with a complete repairs, maintenance, and compliance management tool.
Cem Savas, chief executive and co-founder of Plentific, said: “Compliance is an issue that has skyrocketed up the agenda for housing providers in recent years.
“During our recent PropertyLab incubator, we found that a disconnect in approaches to reporting on compliance and a lack of data integration are a huge burden on housing providers.
“X Tag has been a driving force in digitising that entire process to improve outcomes for all.
“As part of our growth strategy, this acquisition will accelerate our product development in compliance, offering our clients the most comprehensive suite of management and maintenance services on the market.
“This aligns very well with our strategy to scale the platform organically and through acquisitions.”
He added: “At Plentific, we’re committed to improving quality of life by making housing and property work better for everyone and the acquisition of X Tag will allow us to drive this mission forward further. It’s a perfect fit and we’re delighted to welcome X Tag to the team as we continue on our journey together.”
Plentific was founded in 2013 by Cem Savas and Emre Kazan.
Its platform and dynamic procurement technology enables landlords across the UK and Germany to deliver a better, more transparent resident experience while significantly reducing operational costs across all repair and maintenance services.
The approach has dramatically improved outcomes for housing providers, helping them to unlock operational savings of up to 25%, speeding up service delivery fivefold, and creating economic opportunities within their local communities by providing local work to local companies.
John Roche, managing director, at X Tag, said: “We’re delighted to be joining the team at Plentific.
“Cem and the rest of the team have created a platform that not only fills a gap in the market but also truly improves the experiences of both housing providers and tenants.
“As we move onto our next phase of growth, we will now be able to offer our clients around the UK, a wider range of services to support their needs.”