Acquisition Extends MRI’s Global Reach; Expands Offerings for Property Investors, Agents, Occupiers, and Tenants; Provides Greater Scale for Innovation and Development

London – October 4, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of Qube Global Software, a leading UK-based supplier of property and facilities management software. Qube both extends MRI’s global reach and brings further expertise and scale for continued innovation in property technology. Following MRI’s acquisitions of Qube and Real Asset Management, which was announced last month, the combined company now serves 5,500 clients with a global team of more than 1,000 employees. MRI’s 350 employees in the UK make it one of the largest property tech providers in the country, and in Europe as a whole.

“The global real estate sector is growing at unprecedented rates, with investors and capital seamlessly crossing borders and spanning continents,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “The union of MRI Software and Qube Global Software establishes a technology powerhouse to support investors, agents, and occupiers globally and locally. By uniting MRI’s strength and history in North America with Qube’s European market expertise, along with both companies’ long-standing Asia-Pacific footprint, we are uniquely positioned to address the varying needs of the global real estate market with a comprehensive and flexible portfolio.”

Qube’s extensive property and financial management capabilities, as well as facilities management, integrated workplace management systems (IWMS), and space management solutions, complement MRI’s existing offerings and provide greater choice and flexibility for the combined company’s worldwide client base. Qube’s property management offerings serve both the commercial and residential real estate sectors, including lettings, which is experiencing increased demand in the UK. The acquisition also provides Qube clients access to MRI’s world-class financials and investment suite, including solutions for asset management, scenario modelling, and investor relations.

“It’s rare to find two organisations so closely aligned strategically as MRI and Qube, with a long history in the real estate space and a shared vision of providing an open platform that maximises flexibility and choice for clients,” said John Cuppello, Chief Executive Officer of Qube Global Software. “It’s a tremendous time to become a part of MRI, and our capabilities and expertise will play a meaningful role in helping the combined company continue to grow and thrive.”

Through the addition of Qube’s offices in the UK, United States, Australia, New Zealand, Hong Kong and Singapore, MRI is well-positioned to continue exceeding the demands of its growing global client base with increased in-country resources. Both Qube and MRI clients will continue to be served without interruption while near-term integration activities focus on providing expanded offerings to all clients.

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 liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About Qube Global Software

Qube Global Software is a leading supplier of property and facilities management software throughout the world. Over the last 40 years it has helped thousands of clients, ranging from small investors through to global corporations, manage every aspect of their property portfolios. Its products can bring increased revenue and efficiency, reduced costs and full access to vital information for every sector of the property industry. For more information, please visit www.qubeglobal.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

MRI Software Acquires Real Asset Management, a Leading Provider of Asset Management Solutions
Acquisition Brings Fixed Asset Accounting Capabilities to MRI’s Real Estate Clients, Expands MRI’s European Footprint and Adds More than 1,400 Clients Across a Range of Industries

Solon, Ohio – September 20, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of United Kingdom-based Real Asset Management (RAM), a supplier of asset management software, including asset and lease accounting, tracking, and maintenance management. Asset intensive businesses rely on RAM’s solutions to automate traditionally manual and error-prone processes and ensure compliance with accounting, tax, and financial reporting requirements. Additionally, RAM’s mobile and desktop facilities management solutions enable organizations to streamline processes, improve productivity, and reduce property management costs.

“Real estate organizations face the same challenges as other sectors around compliance and regulations related to asset management,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “By acquiring Real Asset Management, with whom we’ve enjoyed a close partnership for many years, we’re able to leverage deep expertise and innovation in asset management and immediately deliver a comprehensive, integrated solution for our clients in the real estate sector, while expanding into new markets where we see a great deal of potential for further growth. This acquisition is also a key milestone in MRI’s aggressive EMEA expansion strategy.”

MRI’s existing integration with RAM will be enhanced to deliver a comprehensive fixed asset accounting solution for the real estate sector that enables MRI’s commercial, residential, and affordable clients to better manage accounting, maximize tax benefits, improve compliance, and increase the ROI of their assets. More information about the newest product can be found here.

Through the addition of RAM’s global headquarters near London, MRI significantly increases its growing UK presence and gains some 950 European clients, together with another 450 clients worldwide. Additionally, MRI is excited to expand its reach into a range of other industries, including leasing and asset management solutions for intermodal transport containers where RAM is a market leader.

“There is an enormous amount of synergy between MRI and RAM, as evidenced by the success of our long-standing partnership” said George Snelgrove, Chairman of Real Asset Management. “The RAM team will be joining a fantastic organization with tremendous talent, insight and reach while bringing its own capabilities for serving any major industry that requires an asset or facilities management solution.”

RAM will continue to serve all of its clients without interruption and remains committed to providing and supporting solutions for all organizations, regardless of their market sector.

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 modeling 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 liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About Real Asset Management

Real Asset Management (RAM) is a leading provider of fixed asset management and logistics software & services.  Over the last 35 years, its products have been implemented by more than 3,000 organisations in over 70 countries. RAM, the principal supplier to the UK public sector, has successfully implemented software in over 2,000 Commercial organizations, 160 Housing Associations, 100 Local Government Authorities, 150 Central Government Offices, 200 NHS Trusts, 90 Educational Establishments and over 250 Government Defence sites worldwide. The company has developed a powerful range of software modules around a central data repository that enables organizations of any size to manage every aspect of the asset lifecycle. Its Series4000 and Series5000 solutions offer fixed asset accounting, capital project control, lease accounting, asset budgeting, asset tracking (utilising barcodes/RFID, cellphones), facilities maintenance and computerised maintenance management.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

MRI Software and HappyCo Partner to Launch MRI Inspections

HappyCo’s Mobile, Real-time Inspection Solution to Integrate with MRI’s Multifamily Property Management Platform for Smarter Apartment Rental Operations 

Solon, OH – June 21, 2017 – MRI Software, a global leader in real estate software solutions, today announced a partnership with HappyCo, the leading mobile software platform to inspect, monitor and analyze the performance of enterprise business assets in real time, to create MRI Inspections, Powered by HappyCo. MRI Inspections is a mobile inspections solution that provides real-time intelligence to reduce costs, optimize turn, and drive quality assurance across multifamily real estate portfolios. Through integration of HappyCo’s Happy Inspector solution into MRI’s Version X property management platform, MRI Inspections enables clients to improve operations by digitizing a traditionally paper-based process and automating inspection scheduling as a normal course of property operations.

“This integrated solution demonstrates MRI’s commitment to providing clients maximum flexibility and choice through an open and connected partner ecosystem,” said Mirriam Livingstone, VP, Operations Services for Village Green, one of the nation’s largest apartment property management companies and a long-time MRI client. “MRI Inspections, Powered by HappyCo, will be a massive upgrade to our inspection processes by eliminating physical paperwork and standardizing data collection, which we anticipate will minimize disputes and improve our ability to collect damage charges. We are looking forward to participating in the working group, and I fully expect our participation to yield even more efficiency and better results.”

MRI Inspections, Powered by HappyCo, will offer a simple, user-friendly experience for property owners and managers centered around a mobile app. With forms that are configurable to meet the needs and standards of each client, the app prompts users to enter the required data and to attach and annotate associated photos. Users may upload the information in real time if the device is connected to the internet, or via sync if the device is offline during an inspection. The end result is a single source for accurate inspections information that minimizes resident disputes and increases payments for property damages. Through the integration of Happy Inspector into MRI Software’s Residential Management solution, MRI clients gain the capability to automatically schedule inspections based on event triggers such as move-ins and move-outs or resident inquiries.

“Revenue loss, wasted time and unhappy tenants are unacceptable to any multifamily owner or property manager, but that is often the result of paper-based, old-school inspections processes,” said Brian Zrimsek, Industry Principal for Multifamily at MRI Software. “MRI Inspections, Powered by HappyCo, fixes that problem by tying the benefits of HappyCo’s inspections software into our MRI Version X property management offering to create an end-to-end, automated solution. This partnership and integration is yet another example of MRI’s commitment to delivering true enterprise software interoperability.”

“A multifamily solutions provider with both a large installed base of clients and a commitment to growing through partnerships is extraordinarily rare, but that’s what we found in MRI,” said Jindou Lee, CEO and co-founder of HappyCo. “Each side went into this integration process with the same goal in mind: creating the best solution for our clients. Together we’ve developed an offering that ties the best of our products together in a single, unified experience.”

MRI Inspections, Powered by HappyCo, is scheduled for general availability in September. MRI Software and HappyCo are currently accepting client signups to join Village Green in a working group that will provide input on features and user experience before the offering is finalized.

Supporting Resources

• MRI Inspections Datasheet
• Video overview
• Sign up for the working group or to be informed of general availability

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 modeling 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 liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About HappyCo

HappyCo is a San Francisco-based software company that builds mobile and cloud applications for enterprise workforces to run their operations in real time. Its Happy Inspector product is used by thousands of companies and has captured more than 100 million items inspected. The company was founded in 2011 and is privately held.

Contact Information
Jeff Miller
LEWIS
mrisoftware@teamlewis.com 
541-207-3461

 

MRI Software Introduces AnalytiX: a Business Intelligence Solution Built for Real Estate

MRI AnalytiX Provides Intuitive, Immersive Visualizations of Real Estate Data for Better, Faster Decisions that Maximize Returns and Minimize Risk

Solon, OH – June 14, 2017 – MRI Software, a global leader in real estate software solutions, today announced MRI AnalytiX, a powerful business intelligence (BI) solution built for real estate. AnalytiX provides an engaging, immersive experience that empowers business users to visualize complex data easily, identify trends, understand the underlying causes behind those trends and, ultimately, make better, faster decisions around property management, finance and investments.

In today’s hypercompetitive real estate industry, organizations must operate efficiently, identify and mitigate risk, and respond quickly to changing conditions. MRI AnalytiX provides real estate professionals with the tools they need not just to survive in this environment, but to thrive. MRI AnalytiX empowers efficiency, by simplifying and visualizing information in a manner that enables leaders to easily understand what’s happening, thus moving from insight to action quickly and effectively.  Decision-makers can quickly see the macro trends that are shaping their businesses and subsequently drill down from standard dashboards to identify outliers and raise additional questions that AnalytiX can answer.

MRI AnalytiX enables organizations to focus on results instead of the process of gathering information. Results are on-demand with up-to-date analysis and presentation-ready reporting always available, so business users get answers on their own in minutes, instead of waiting weeks for standard monthly reports. Moreover, staff can spend their time more effectively creating value for their organizations instead of wasting days hurriedly preparing information that will already be stale once the analysis is complete. And as cloud-based solution, AnalytiX is accessible anywhere, including via mobile devices.

The primary benefits of MRI AnalytiX include:

• Assess trends: Identify how key market indicators will affect conditions so real estate firms can take action long before the competition. From internal indicators like expense trends and occupancy, to performance factors like delinquencies and tenant health, data visualizations show where management should focus.
• Analyze portfolios: Easily unearth the factors that are preventing assets from performing at their full potential and identify the best mix of properties and tenants for the organization. AnalytiX was designed by real estate professionals for real estate professionals, so the solution makes it easy to perform the analyses, including analyses of geospacial information, that truly make a difference for the bottom line.
• Maximize returns and minimize risk: Gain insight into fundamental shifts in asset and lease mix as well as changing market dynamics by visualizing performance.
• Ease-Of-Use: Free the business community to immerse themselves in a wealth of real estate and financial performance information without the need to maintain a technology organization to support BI.

MRI AnalytiX is currently available with MRI Investment Modeling and MRI Financials. It will also be available for MRI Advanced Retail and MRI Commercial Management in the third quarter of this year. And while MRI AnalytiX leverages Tableau as its primary BI engine, organizations will also be able to access their data using third-party BI tools when the AnalytiX Data Store is released in the fourth quarter of this year.

“MRI AnalytiX is unlike any other BI solution on the market because it was designed specifically to maximize insights and user experience for real estate professionals,” said Charles McDowell, Vice President of Commercial Solutions and Client Experience at MRI Software. “We are empowering our business users to embrace their data and quickly get the results they need on their own. And because it’s a highly graphical, immersive experience, it’s actually fun to use. With AnalytiX, organizations can uncover hidden insights in a way that leaders intuitively understand, thus driving informed decisions in a timely and relevant manner.”

For more information on MRI AnalytiX, please visit https://www.mrisoftware.com/analytics-and-reporting/.

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 modeling 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 liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MRI Software Appoints David Carner to Lead Multifamily Business Unit

Real Estate Technology Veteran to Lead All Strategic and Operational Initiatives
for MRI’s Growing Multifamily Business

Solon, OH – June 12, 2017 – MRI Software, a global leader in real estate software solutions, today announced the appointment of 25-year industry veteran David Carner as group vice president for the company’s multifamily business unit. With extensive senior management experience at real estate technology providers in functions ranging from product management and operations to business development and marketing, Carner brings the end-to-end expertise to build on and accelerate the growth of MRI’s multifamily business.

“Dave’s appointment marks a significant milestone for our business and further emphasizes our long-term commitment to and leadership position in the multifamily sector,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “Dave will be a huge asset to MRI, and we could not be more pleased to have his invaluable experience on our leadership team. Dave will have our total support as he guides us to new heights in multifamily.”

Carner will take over MRI Software’s fast-growing multifamily business in the midst of record expansion of its platform across all sectors, including conventional and affordable housing. In the past twelve months alone, MRI has grown its multifamily offerings to include solutions for automated communications, resident screening and asset management with the acquisitions of CallMaX, ResidentCheck and Integratec, respectively. These solutions, along with new innovations in MRI’s Multifamily Connect Suite, meet client needs for property and asset management and full resident lifecycle engagement, from prospect attraction to resident retention.

“As someone who’s been in this industry for well over two decades, I am very familiar with MRI Software’s long history of success helping multifamily real estate organizations elevate their business,” said Carner. “I’m thrilled to be joining the team now at a time of unprecedented investment and momentum in multifamily. MRI’s commitment to delivering comprehensive and flexible software supported by an open and connected ecosystem of innovative partners is  the ultimate in client experience and the core tenet upon which we will continue to build the MRI legacy.”

Prior to joining MRI Software, Carner was senior vice president at First Advantage, a provider of comprehensive background screening solutions, where he was responsible for guiding the success of its Residential Solutions business. Before First Advantage, he spent 18 years with RealPage, including serving as president of both LeasingDesk and CrossFire. Carner graduated cum laude from the University of Pittsburgh and completed an MBA from the Cox School of Business at Southern Methodist University. He will be based out of MRI’s new Dallas office.

MRI Software’s multifamily business is built upon its Residential Suite. These flexible solutions for conventional and affordable housing adapt to individual customer needs, allowing property owners and managers to take control of the entire real estate cycle, from online leasing and lead qualifications to renewals and statement of deposit.

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 modeling 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 liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MRI Software and GI Partners Announce Strategic Partnership with TA Associates

Investment supports expansion of MRI’s global footprint and mission-critical enterprise software applications to help real estate companies improve operations and maximize portfolio value

SOLON, OH – May 23, 2017 – MRI Software, a global leader in real estate software solutions, today announced that it has signed a definitive agreement to receive a strategic investment from TA Associates, a leading global growth private equity firm. GI Partners acquired MRI in June 2015 and will remain an investor in the company, alongside TA Associates.

As one of the founders of the real estate technology industry, MRI Software has remained committed to providing insight, automation, flexibility and choice for clients since its founding in 1971. Recognizing that every organization has unique requirements, MRI gives real estate owners, operators, occupiers and investors the freedom to choose the right mix of technology for their business. Today, MRI’s comprehensive and flexible portfolio includes solutions for commercial and multifamily property management, leasing, accounting and finance; offerings for managing the tenant and resident lifecycle; robust investment management and modeling solutions for optimizing the performance of deployed capital; and sophisticated reporting and analytics offerings. MRI supports its 3,100 global clients from its headquarters in Solon, Ohio, and offices in Atlanta, Dallas, London, Hong Kong, Singapore, Sydney and Toronto.

Since GI Partners’ investment in 2015, MRI Software has experienced considerable growth through product innovation, international expansion, and multiple strategic acquisitions. During this time, MRI has significantly expanded its offerings for the multifamily real estate sector and launched the industry’s most comprehensive Investment Suite, with solutions to analyze, manage and communicate the performance and risks of real estate assets and investments. MRI also brought on more than 70 partners and connected their solutions to its open platform, providing clients unmatched flexibility and choice through true enterprise software plug-and-play in a single, unified experience. Over the same period, MRI has added more than 1,000 clients and 160 employees worldwide.

“MRI Software is a leader in real estate technology because of our relentless commitment to delivering value to our clients and partners through exceptional products, services and relationships,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “GI Partners has been a strong supporter and a key contributor to the acceleration of our business, and we look forward to continuing this relationship. Expanding our partnership to include TA Associates, a firm with deep software industry experience and global scale, will provide additional resources to fuel our growth through further expansion of our international footprint and our real estate technology solutions. The combination of these two leading strategic investors will provide greater access to global resources and enables us to invest even more to deliver innovation, flexibility and value for our clients and partners.”

“Since our partnership with MRI Software in June 2015, the company has successfully executed against its growth strategy, rapidly accelerating topline revenue growth, delivering significant levels of product innovation, deepening its presence in international markets, and expanding its open and connected partner ecosystem,” said Travis Pearson, Managing Director of GI Partners and a member of the MRI Software Board of Directors. “It has been a pleasure to partner with and support Patrick Ghilani and his management team as they solidified MRI’s leadership in the real estate technology market. We look forward to continuing to support MRI and partnering with TA Associates as the business continues to expand globally.”

“MRI Software has established a differentiated position in the fast-growing real estate software space with a comprehensive, configurable and open platform that meets the unique needs of real estate owners, operators and investors,” said Hythem El-Nazer, a Managing Director at TA Associates who will join MRI Software’s Board of Directors. “With its significant investment in product, people and partners, we believe MRI is well positioned to continue growing its leadership position in the commercial, residential and investment management markets. We are excited to partner with Patrick Ghilani and his team, alongside GI Partners, to support the company’s continued innovation and growth.”

Jason Werlin, a Managing Director at TA Associates, also will join MRI Software’s Board of Directors. In addition to Mr. Pearson, Jeff Sheu, a Director at GI Partners, will also remain on the Board.

Additional terms of the deal were not disclosed. Shea & Company is acting as the exclusive financial advisor to MRI Software and GI Partners during the transaction. SunTrust Robinson Humphrey is acting as a financial advisor to TA Associates.

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 modeling 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 liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com.

About GI Partners

GI Partners is a leading private investment firm based in San Francisco. The firm has raised over $14 billion in capital since inception through private equity and real estate strategies from recognized institutional investors across the globe. GI Partners’ private equity team is active in a number of key sectors, including IT Infrastructure, Healthcare, Software, and Services. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.

About TA Associates

TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 480 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the business services, consumer, financial services, healthcare and technology industries. More information about TA Associates can be found at www.ta.com.

Press contact:
LEWIS PR for MRI Software
Jeff Miller
541.207.3461
mrisoftware@teamlewis.com

Chris Tofalli for GI Partners
chris@tofallipr.com
914.834.4334

BackBay Communications for TA Associates
Zachary Tramonti
617.391.0797
zachary.tramonti@backbaycommunications.com