MRI Strengthens IWMS Capabilities
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MRI Software has entered into an agreement to acquire Manhattan, the real estate and workplace solutions division of Trimble.
The agreement which follows the acquisition last month of lease administration, accounting and facilities management software company AMTdirect, will strengthen MRI’s technological footprint and bolster its client base in North America, Europe and Asia Pacific - and extend its reach in the United States, United Kingdom, India and Australia.
The combined entity will serve 2300 corporate occupiers, and enhances MRI’s Integrated Workplace Management System (IWMS) offering by adding robust workplace scheduling and facilities management capabilities.
Manhattan clients gain access to a broader scope of applications to manage their lease portfolio, including MRI’s artificial intelligence (AI)-powered lease abstraction platform.
Patrick Ghilani, MRI CEO, comments: "The world of work has changed fundamentally over the past year, and companies require innovative solutions that enable flexibility for their workplaces and leases.
"The acquisition of Manhattan will bring a well-respected industry leader with a strong heritage into the MRI fold, and our combined workplace management capabilities uniquely position us to serve the needs of owners, operators and tenants across the real estate spectrum."
Suresh Sundaram, general manager of Trimble Real Estate Solutions, adds:
"There is a real synergy between Manhattan’s offering and MRI’s occupier solutions that will benefit the clients of both businesses – and indeed any corporate occupier. Manhattan will gain from joining a larger organization committed to investing in innovative real estate technology.
"Both companies have a tremendous commitment to enabling finance and real estate teams to better manage their lease portfolios while maintaining compliance with global lease accounting standards, including FASB, IASB, and GASB."
The acquisition is subject to regulatory approvals.