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| Aareal Bank sells Paco unlimited Wiesbaden-based Aareal Bank Group has sold its "Paco unlimited" product line within the framework of a management buyout. Paco unlimited is an access control and automated micropayment billing system for the institutional housing sector. The client base comprises companies that own and manage large portfolios of residential and commercial properties. The new company created within the scope of the spin-off will operate in future as an independent entity managed by a former executive of Aareal Bank Group, together with other former group employees also coming on board. Aareal Bank developed the Paco unlimited product line in recent years through its wholly-owned subsidiary Aareal First Financial Solutions AG, building an installed base involving various applications for the system on the German market. write your comments about the article :: © 2007 Construction News :: home page |