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
LONDON, Sept. 20, 2017 /PRNewswire/ -- MRI Software, a global leader in real estate software solutions, today announced the acquisition of 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 organisations to streamline processes, improve productivity, and reduce property management costs.
"Real estate organisations 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, maximise tax benefits, improve compliance, and increase the ROI of their assets.
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 organisation 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 organisations, 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 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 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 organisations 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.
SOURCE MRI Software