The Fight For Leadership Position In The IWMS Market Intensifies As MRI Software Acquires Trimble’s Manhattan

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The Fight For Leadership Position In The IWMS Market Intensifies As MRI Software Acquires Trimble’s Manhattan

On February 17, 2021, real estate software vendor MRI Software announced that it has entered into an agreement to acquire Manhattan, the integrated workplace management system (IWMS) division of Trimble. The deal follows other acquisitions that MRI has made in the real estate occupier segment, building on its heritage in serving landlords and investors. The transaction is subject to several closing conditions and is expected to close in H1 2021.

The acquisition of Manhattan will provide a notable boost to MRI’s growing product line for building occupiers. While many of MRI’s acquisitions have focused on lease management software specialists, Manhattan will provide it with a strong IWMS platform that can centralize a broader range of real estate, facilities and workplace data. Real estate executives buy IWMS platforms to improve data quality, enhance decision-making, and reduce IT maintenance costs. In our 2019 benchmark of IWMS solutions, we rated Manhattan as one of six leaders in the IWMS market, with particular strength in real estate financial management. In the future, Manhattan clients can benefit from the innovative products from the broader MRI family, including its AI-powered lease abstraction platform Leverton.

This latest deal signals that the fight for a top-three position in the IWMS market is becoming increasingly competitive. In 2020, the top-tier IWMS vendors made a series of bold moves to improve their positioning. Planon sold a 25% stake to Schneider Electric, with the two vendors agreeing to collaborate on joint solutions for the real estate market. Archibus rebranded as SpaceIQ, signalling a new era of product innovation and a diversifying suite of software products. iOFFICE acquired Teem, boosting its capabilities to serve enterprise customers, following its purchases of HippoCMMS and ManagerPlus.

What is next for the IWMS market? In 2021, we predict IWMS vendors will embark on a new slew of acquisitions to grow their customer bases and extend their software capabilities. Unlike the previous flurry of acquisition activity that focused on space reservation specialists, IWMS vendors will buy up a broader set of vendors, including energy management and maintenance management software firms, to bring them customers in new industries. To learn more about the technology developments coming to the smart building market, read our report 10 Predictions For Smart Building Technology In 2021 And Beyond.

Susan Clarke

Research Director

Susan leads the Verdantix Smart Buildings practice. Her current research agenda focuses on software solutions for real estate management including integrated workplace management systems and IoT platforms for buildings. Her research expertise also includes a broad range of energy management technologies and energy services. Susan has eight years of experience in technology research. She holds a MSc from the University of London in Sustainable Development.