Global real estate software specialist MRI has announced the acquisition of UK competitor Qube Global Software creating a new combine serving over 5,500 clients.
The transaction follows MRI’s acquisitions of Real Asset Management last month and further strengthens MRI's client base which has now reached 5,500 with a global team of more than 1,000 employees.
'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. '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.'
MRI said that Qube’s extensive property and financial management capabilities, as well as facilities management, integrated workplace management systems (IWMS), and space management solutions, complement its 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.
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.
