Verdantix: Accruent to be acquired by Fortive for whopping $2 billion


On July 31, 2018, industrial technology solutions giant Fortive announced that it has entered into an agreement to acquire Accruent, a real estate and facilities management software provider, from private equity firm Genstar Capital. Fortive will pay $2 billion in cash and expects Accruent to generate revenues of $270 million in 2018. This will come from its suite of software products used by Accruent’s 10,000 customers. Upon completion of the acquisition, Accruent will become part of Fortive’s portfolio of Field Services solutions alongside other brands such as Fluke, Gordian (RSMeans), and Industrial Scientific. Verdantix finds this is the biggest deal to date in the $4.9 billion market for real estate and building management software, which we define further in our recent report

What does the deal mean for the broader real estate and building management software market? The deal shows the market is consolidating at a rapid rate. The largest real estate software vendors MRI, RealPage and Yardi have been locked in an arms race of acquisitions to further bolster their scale. Meanwhile, IWMS vendor Planon has pursued targeted acquisitions to support international expansion. This latest deal also highlights the emerging push by software vendors to make greater linkages between software used during the construction and operational phases of buildings. Witness Elecosoft, a construction software provider, acquiring Shire Systems, a CMMS vendor, to offer the construction firms and property investors it engages with a maintenance management solution…

[Admin: This post is related to the 08.01.16 post about CAFM, CMMS, EAM, and IWMS competitors. To see other related posts, use the Verdantix tag or Accruent tag.]

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