(CLEVELAND, Ohio) — Taazaa Inc., a product engineering and software development company, announced the acquisition of Lexington Solutions, makers of Fusion. Fusion is a property asset management platform tailored to the Low-Income Housing Tax Credit (LIHTC) market needs. Taazaa sees it as another way to make life easier through great software.
Created for Boston Capital in 2005, Fusion was designed by asset managers for asset managers in the LIHTC space. Boston Capital managed more than 2,500 LIHTC properties at the time, and their database was a liability instead of an asset.
“Necessity was definitely the mother of Fusion’s invention,” said Brian Madden, Chief Operating Officer for Lexington Solutions, formerly a subsidiary of Boston Capital. “None of the existing database software satisfied our rigorous and specialized demands, so we built our own solution.”
In 2009, Lexington Solutions made Fusion available to the entire LIHTC community. Fusion quickly became the most innovative and intuitive asset management software for the LIHTC industry.
Yasir Drabu, Taazaa’s founder and CEO, said Fusion goes hand-in-hand with Innago, a free tenant management app that’s also part of Taazaa’s portfolio.
“Innago and Fusion both make life easier for property managers,” Drabu said. “And that’s Taazaa’s goal—making life easier through great software.”
The move to acquire Fusion first started in October 2020, and the deal was completed in April 2021. The acquisition of Lexington Solutions fits into Taazaa’s strategy to build innovative B2B SaaS category-leading products, especially in the PropTech space.
“By purchasing Lexington Solutions and the Fusion platform,” Drabu said, “we get an industry-leading product in the affordable housing market that we can integrate with our other property management products.”
Taazaa’s primary goal is to modernize the platform and make it cloud-native. The company also plans to add features for investors and asset managers to help improve the management of their properties.
Taazaa means “fresh.” Think new. Not canned. Tailored to you. We work with like-minded people and organizations looking for a fresh experience around creating and unleashing great software. Since 2007, Taazaa has helped hundreds of mission-minded organizations stay relevant in a world of relentless change. Leveraging custom software solutions and emerging technology, we follow design-based development practices that promote rapid delivery and a tailored fit to your business. We’re agile. We’re high-empathy and low-friction. And we make great software.