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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Planon: From Smart to Learning Buildings with Machine Learning


Organisations and more specifically, their facility and real estate managers are constantly looking to improve our work environment and the buildings that we work in. They want to be cost-efficient, increase productivity, and create a healthy and attractive workplace for their employees.

The Internet of Things and Smart Buildings are providing interesting opportunities to improve our work environments. Achieving this, however, is a big challenge for organisations. What Smart Building solutions are organisations looking for? What is the real value to organisations? How will organisations realise these benefits?

From a reactive to a proactive approach through “machine learning”

The ability of buildings to measure every action or change in behaviour by the building or its occupants is changing rapidly. Nowadays, affordable sensors are available that measure for example space occupancy, air quality, usage of specific spaces or the state of building installations. Data collected from these sensors provides information about these items. We can use this data to make improvements to the work environment, building or user experience.

For example, when sensor measurements show that a meeting room that was reserved is actually not in use, it can immediately become available for a new meeting. In addition, when sensor measurements show that a specific toilet area is used less than expected, the cleaning schedule can be adjusted. However, these useful examples are based on an “If This Then That” scenario, meaning that if an event occurs we react to that event. This is a reactive approach rather than a proactive approach, so can we really call this “smart”?

[Admin: This post is related to the 11.01.17 post about designing smarter buildings that learn. To see other related posts, use the Planon tag or Smart Buildings tag.]

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FieldFLEX releases their latest mobility application for FCA


FieldFLEX, the leading developer of mobile enterprise software for corporate real estate and workplace management, announced they will be releasing a premier mobile application designed specifically for facilities engineers and inspectors to gather asset data, perform asset condition audits, and estimate repair and replacement costs. The mobile app will allow organizations to rapidly collect and establish accurate asset records, support sustainable funding models, make critical decisions in a shorter time, and feed data directly into the capital planning and operational process…

The FieldFLEX FCA application is fully integrated with the FieldFLEX mobile platform and offers organizations a flexible, highly-scalable, IoT-enabled mobile solution that provides opportunities to reduce costs and risks. The FieldFLEX mobile platform builds a culture of engagement by connecting mobile employees with their workplace for real-time interaction. The suite of mobile enterprise productivity apps includes asset tracking and logistics, and field operations such as inspections, facility assessments and surveys. Compatible with iOS, Android, and Windows, FieldFLEX apps seamlessly integrate with the enterprise IWMS.

[Admin: To see other related posts, use the FieldFLEX 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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Tango: Tailored Brands selects Strategic Store Lifecycle solution


Tailored Brands, Inc., a recognized leader in men’s tailored apparel operating over 1,400 locations in the U.S. and Canada, has selected Tango’s Strategic Store Lifecycle Management Solution to facilitate all aspects of their real estate strategy and store development activities needed to support growth of the company’s iconic brands, including Men’s Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G. Tailored Brands has licensed Tango’s Market Planning & Site Selection, Program & Project Management, Lease Administration and Facilities Maintenance products…

An important consideration for Tailored Brands was ensuring compliance with the new lease standards put forth by FASB. Tango’s lease accounting software is unique in the marketplace, in that unlike other solutions that will require retrofitting to ensure compliance, Tango’s lease accounting functionality was developed with compliance as part of the foundation…

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

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Verdantix: SpaceIQ seeks to disrupt the IWMS marketplace


SpaceIQ, a provider of IWMS and CAFM solutions, announced its official company launch. Headquartered in Silicon Valley, SpaceIQ offers a workplace management platform that supports customers with space planning, move management and real estate data management. It aims to bring a next-generation IWMS solution to market which is employee-centric, prioritizes user experience and responds to the latest real estate trends such as worker productivity and employee engagement…

SpaceIQ’s focus on user experience feels very in line with market requirements. Verdantix finds that SpaceIQ could also consider developing broader functionality into areas such as maintenance management or lease management. Our research shows that large customers are keen to implement a platform from a single vendor with multiple modules spanning real estate and facilities management, as they rationalize IT systems and look for the benefits of centralized data…

[Admin: This post is related to the 08.01.16 post about the competitors of IBM TRIRIGA, and the 08.22.17 post by Verdantix about IWMS competition intensifying. To see other related posts, use the Verdantix tag or IWMS 2.0 tag.]

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FM:Systems: IWMS market leader in 2017 Green Quadrant report


FM:Systems was recognized as a leader by Verdantix in their 2017 Green Quadrant Analysis for IWMS. As a leading provider of Integrated Workplace Management Systems (IWMS) and Computer-Aided Facility Management (CAFM) software, FM:Systems differentiates its comprehensive solution with best-in-class capabilities for space optimization. FM:Systems garnered high remarks in its breadth of functionality in addition to its best-in-class capabilities for space optimization…

Verdantix awarded FM:Systems multiple perfect scores of 3.0/3.0 for the Scenario Planning module, Move Management module, and for space utilization data collection and analysis. FM:Systems is positioned as a leader in the industry, integrating scenario planning and real-time monitoring of space utilization with various sensors, such as heat and 3D people sensing cameras. These capabilities address the most urgent challenges in optimizing facility and real-estate resources.

“Our placement in the 2017 Green Quadrant for IWMS is a strong confirmation that we’re growing in the right direction,” says FM:Systems President Kurt von Koch. “Our customers’ success has always been the driving force behind FM:Interact, and we’re pleased to know that our commitment to our customers is being recognized and reflected by the industry, particularly in an industry that is so rapidly changing.”

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

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