MRI Software Set To Acquire Trimble's Real Estate Solutions Division

Real estate software company MRI Software inked an agreement to acquire Trimble Inc’s (NASDAQ: TRMB) real estate and workplace solutions division, Manhattan. The deal extends the range of MRI’s occupier solutions, providing a wider scope of offerings for commercial property owners, operators, and tenants.
The acquisition’s financial terms were not disclosed, and the transaction is estimated to close in the first half of 2021.
The acquisition complement’s MRI’s continuing strategic expansion of corporate occupier business, providing clients a 360-degree view of their workplace and simplifying the complexities of managing diverse portfolios.
Additionally, the acquisition improves MRI’s Integrated Workplace Management System (IWMS) offering with robust workplace scheduling and facilities management capabilities.
The acquisition consolidates MRI’s technological footprint and bolsters its client base in North America, Europe, and the Asia Pacific.
MRI acquired lease accounting, administration, and facilities management provider AMTdirect in January end towards expanding its offerings.
Price action: TRMB shares are down 3.61% at $72.46 on the last check Wednesday.