Proptech Firm Broadens Market Footprint and Increases Scale of Offerings for Corporate Occupiers
Solon, Ohio – January 27, 2021 – MRI Software, a global leader in real estate technology, has acquired AMTdirect (AMT), a North Carolina-based provider of lease accounting, lease administration and facilities management solutions for corporate occupiers and lessees. Clients across a wide range of industries use AMT’s technology to organize and manage their lease portfolios while ensuring compliance with global lease accounting standards, such as FASB, IASB, and GASB.
“Today’s businesses require technology to adapt to the changing nature of work,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “Commercial tenants must efficiently manage their space to provide a safe, flexible experience for employees, while also strategically managing their leases to maintain compliance with new lease accounting standards.”
The acquisition further reinforces MRI’s commitment to the occupier sector and increases its market presence. MRI’s solutions serve the needs of all parties in a building, covering property owners, operators and tenants. The company now serves approximately 2,000 occupier clients worldwide.
Ghilani adds, “We’re excited to welcome AMTdirect to the MRI family. With this acquisition, we’re further increasing the depth of our offering for corporate tenants, while enabling AMT’s clients to take advantage of solutions that complement lease management, such as lease administration, space management, and AI-powered lease abstraction.”
“We are eager to begin this new chapter,” says Jeff Ralyea, CEO of AMTdirect. “MRI is a pioneer in the industry and has a stellar reputation for innovation. As part of MRI, we can give our clients access to a broader variety of tools that will fuel business growth.”
MRI will continue to support AMT users without interruption.
Kirkland & Ellis served as MRI’s legal advisor. AMTdirect was an investment held by Luminate Capital Partners.
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.
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