Acquisition Extends MRI's Global Reach; Expands Offerings for Property Investors, Agents, Occupiers, and Tenants; Provides Greater Scale for Innovation and Development
LONDON, Oct. 4, 2017 /PRNewswire/ -- 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.
SOURCE MRI Software