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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Verdantix: MRI Software acquires Qube Global Software


MRI Software, a provider of real estate software solutions backed by GI Partners, announced the acquisition of Qube Global Software, a UK-headquartered property and facilities management software vendor. The acquisition will boost US-headquartered MRI Software’s presence in Europe, providing it an additional 280 employees and growing its client list by around 1,000 organizations…

What is the key takeaway for market participants? This acquisition demonstrates yet again consolidation is continuing at a rapid pace in the real estate and facilities software market… Verdantix expects acquisition activity will not slow down given that vendors such as Accruent, Dude Solutions, Condeco and Tango Analytics are backed by private equity funding with ambitious growth plans…

[Admin: To see other related posts, use the Verdantix tag or Tango tag.]

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Real estate software market to grow at a CAGR of 5.04%


In December 2013, TechNavio’s report, the Global Real Estate Software Market 2014-2018, was prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Real Estate Software market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

The key vendors dominating this market space are Accruent Inc., Argus Financial Software, MRI Software LLC, RealPage, Inc., and Yardi Systems Inc. Other vendors mentioned in the report are AMSI Property Management, CoStar Group, Fiserv Inc., IBM TRIRIGA, Oracle Corp, Trulia, and Zillow.

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