M&A Activity in Facilities Software Ignites as IWMS Provider Accruent Buys Verisae to Strengthen Energy Management
On September 22, 2016, Accruent, a provider of real estate, facilities and asset management solutions, announced its latest acquisition – SaaS solution provider Verisae. The purchase will provide Accruent with enhanced capabilities to manage mobile maintenance teams and deeper functionality for energy management. The acquisition will also extend Accruent’s geographic breadth across Europe and Asia.
In 2016 Accruent has been leading a slew of acquisition activity, part of its strategy to grow its breadth of capabilities across facilities life-cycle management and industry expertise. Just last week we covered Accruent’s purchase of Integrated Workplace Management Systems (IWMS) software provider BIGCenter from Cushman & Wakefield. Also, in April 2016 Accruent purchased Mainspring Healthcare Solutions to boost its capabilities for the operational management of hospitals.
The latest deal by Accruent confirms that the race to deliver complete software for facilities optimization is picking up pace. Verdantix expects this deal will put pressure on other major IWMS providers such as AssetWorks and Planon, to look at acquisitions to quickly fill gaps in their capabilities. Verdantix has heard in recent conversations with IWMS providers that building out energy management capabilities will be the next frontier. Yardi has already acquired MCEnergy Inc in August 2015 and Proliphix in June 2016, to strengthen its Smart Energy Suite. This trend might also provide a welcome opportunity for specialist energy management software firms to exit the market.
For more details on this latest deal in the Real Estate And Facilities Information Management Market (REFIM), see our recent report - Accruent Takes A Significant Strategic Step Through Verisae Acquisition