Aquicore Takes Its Platform Up A Gear With The Acquisition Of Energy Analytics Vendor Entic
On March 26, 2019, Aquicore, a provider of building operations management software for asset managers, property managers and engineers, announced the acquisition of building and energy analytics vendor Entic. The deal brings together US-headquartered Aquicore, founded in 2012 with $18 million raised to date, with Entic which had raised $12 million since being founded in 2011. The combination of the two firms will create a 65-employee software vendor with 120 customers covering 800 buildings and 250 million square feet of real estate. Following the acquisition, Aquicore plans to bring the insights generated through Entic’s analytical engine into its platform and mobile apps, to provide more granular insights on energy waste and building system performance.
The acquisition is a step forward in Aquicore’s strategy to provide actionable insights to property managers on how to run buildings better. Entic’s software, drawing on its 50 proprietary algorithms, continually monitors HVAC infrastructure, then provides alerts on faults and suggests corrective actions. Witness the Howard Hughes Centre using Entic software to troubleshoot mechanical issues with HVAC systems and provide better direction to its building controls vendors. Real estate investor Blackstone is using Entic to remotely monitor the performance of building automation systems across its portfolio.
Verdantix finds this acquisition is timely. Firstly, our survey data shows growing interest amongst building managers for insights that enable the early detection, diagnosis and correction of building system inefficiencies. Secondly, on the vendor side, the arms race to establish deeper fault detection capabilities is in full swing. Competing software vendors such as Enertiv, Envizi, Facilio and Switch Automation are deepening their capabilities in this area, while CMMS vendors FacilityConnex and Ultimo Software Solutions are augmenting their software with more advanced fault diagnostics analytics.
To learn more about the technology solutions being deployed by real estate investors and asset managers as they push for better asset performance, read our survey Global Real Estate Investor Survey 2018: Budgets, Priorities And Tech Preferences.