Acquisition provides deeper tenant insights and risk mitigation for commercial and residential real estate owners amidst global economic uncertainty
Cape Town – 19 October 2022 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of Johannesburg-based TPN Group, a registered credit bureau serving the residential, commercial, and education markets in South Africa. TPN’s comprehensive solution portfolio includes verification services for credit, employment, and criminal records, as well as legislation-compliant document packs, market reports, and toolkits.
Founded in 2000, TPN serves more than 20,000 property and education clients, including landlords, property and institutional investors, property funds, brokers, managing agents, and practitioners. TPN is widely known for providing valuable data and insights to the likes of the South African Reserve Bank (SARB), major commercial banks, most of South Africa’s listed Real Estate Investment Trusts (REITs), and a variety of industry bodies.
“In the face of global economic uncertainty and the financial pressures created by widespread inflation, it’s more important than ever to have accurate, detailed tenant profiles to support decision-making,” said Mark Fairweather, Managing Director of MRI Africa. “TPN is recognised as the most comprehensive authority on tenant behaviour in the region, and we are exceptionally excited to welcome them to the MRI family. We share many clients with TPN, and this combination will enable us to enhance the value we deliver – providing deeper insights, centralising typically disparate processes, and enabling organisational compliance. We look forward to continuing to expand our offerings in the South African market.”
MRI has established itself as a leader in commercial real estate software in South Africa and one of the largest players in the African continent and the Middle East. Data is the foundation of MRI’s worldwide open and connected ecosystem, and TPN’s established leadership in delivering deep tenant insights complements and strengthens MRI’s capabilities in its property management and accounting software portfolio – bringing clients greater efficiencies and facilitating continued growth.
“Since launching TPN over 20 years ago, we’ve created an unrivalled database of tenant and education information that has helped our clients mitigate risk and optimise cashflow. We are proud to have supported clients across South Africa by enhancing their operations while navigating both change and opportunity alike,” said Chris Dickens, Chief Information Officer of TPN Group. “Joining MRI means our clients will benefit from greater business reach and gain access to enhanced capabilities, supported by scaled organisational structure.”
The acquisition demonstrates MRI’s ongoing commitment to the South African market and enhances the company’s local presence and support. MRI will continue to serve TPN clients without interruption.