Dexters has around 70 offices in London and as part of the conditions of the deal, Howsy will share its technology with Dexters while continuing the management and links with its existing landlord clients.
In the meantime, Dexters will operate with its existing, extensive lettings portfolio, working with over 30,000 landlords and facilities. The company manages more than 28,000 property transactions in London per annum.
After announcing a partnership with and financial backing from Oakley Capital in February last year, Dexters’ planned growth strategy includes opening more offices, acquiring smaller companies and expanding its digital activities to deliver its services through multiple channels.
Dexters has previously partnered with estate agents Roy Brooks, Douglas Martin, Peter James and Sebastian Roche to boost its market share in residential lettings and sales in London.
Andy Shepherd, chief executive of Dexters, said: “In February 2021, we announced a strategy of growth through acquisition of competitors and expanding the group’s digital activities. This acquisition of Howsy marks a key step in the implementation of this plan.
“Increased digitalisation of our London lettings business using Howsy’s innovative ‘smart tech’, will help Dexters scale up our residential lettings service whilst maintaining our excellent property management and tenant care,” he added.