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.]
Buildings that support occupant happiness and productivity sound great. So what’s the catch? Occupant well-being and happiness is much harder to quantify compared to environmental factors such as energy efficiency. Also, there aren’t yet well-recognized rating systems, although the International WELL Building Institute is making some headway. But the bigger puzzle for the smart building ecosystem to solve is: How much do building conditions really contribute to occupant happiness? How should building investments be balanced with other areas such as IT?
[Admin: To see other related posts, use the Workplace tag or Satisfaction tag.]
IWMS (Integrated Workplace Management System) vendors continue to launch a flurry of new products aimed at helping employees better navigate workplaces and book space. Some of the latest product releases make interactive kiosks and touch screens central to the proposition – providing employees tools that can be easily accessed while moving through buildings.
Witness FM:Systems launching bookMe in October 2017 which enables employees to use digital signage and mobile apps to find and reserve space, and Trimble launching LiveSign Pro Touch Panels in November 2017 powered by Manhattan software, enabling the convenient booking of space. Other IWMS vendors such as ARCHIBUS and Planon also make their reservation solutions on touchscreens.
What is interesting about these emerging digital signage solutions is the focus on engaging employees beyond the desktop. This is a different mindset to what’s occurred historically, when many IWMS applications were designed for desktops with mobile apps added later. Why is that important? It allows for solutions that are designed to be used by employees on-the-go, with a very specific specification around engaging building users with simple and intuitive user interfaces…
[Admin: This post is related to the 10.31.17 post about FM:Interact bookME. To see other related posts, use the Verdantix tag, FM:Systems tag or Mobile tag.]
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.]
Li-Fi is an exciting emerging technology that’s got the communications technology world talking. By transmitting data by modulating LED lights and using a light detector as a receiver, Li-Fi is extremely fast compared to Wi-Fi, being able to stream up to 224 gigabits per second compared to 100 gigabits achievable by the world’s fastest Wi-Fi network.
It also has great security benefits as it is harder to intercept the signal outside of the building (or smart building). There are potential cost advantages too as ordinary LED lights can be used lowering operational and maintenance costs, although this will depend on the router and receiver costs once production at scale is reached…
Only in 2017, we have witnessed three significant acquisitions and partnerships.
[Admin: To see other related posts, use the Verdantix tag.]
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.]
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.]