Consumer tech company Milango takes over its local competitor Circle.
In a significant move, Milango, a leading community management software provider, has announced the acquisition of its local rival, Circle. The deal is set to strengthen Milango's position in the community management sector.
Founded in 2020 by Nancy Kamal and Essam Maged, Circle has been a pioneer in streamlining communication between real estate and property management firms and their tenants. By providing an efficient platform for handling tenant requests and reducing operational costs, Circle has carved out a niche for itself in the market.
Amr Mostafa, CEO of Milango, expressed his excitement about the acquisition, stating, "This acquisition is on the right track to bring a smarter life to all communities." He further added that the acquisition would help Milango accelerate its growth in the community management category.
The acquisition has significantly boosted Milango's user base, with over 100,000 residential units now under contract.
Last year, Circle made headlines when it was named "The Best Disruptive Startup" representing Egypt at the 4th Annual AfricArena Summit in March 2021. The startup also secured investment from 500 Startups MENA in May 2020.
Despite extensive search, no specific details regarding the financial aspects of the acquisition or growth projections for 2022 have been disclosed. However, Milango aims to leverage the acquisition to propel its growth in the community management sector.
As of now, more specialized financial or business databases or news sources may hold information regarding the financial and growth details of the acquisition in 2022. Stay tuned for further updates on this developing story.
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