by Brianna Crandall — October 25, 2017 — MRI Software, a global provider of real estate software solutions, recently announced the acquisition of Qube Global Software, a UK-based supplier of property and facilities management (FM) software around the world. Qube both extends MRI’s global reach and brings further expertise and scale for continued innovation in property technology.
Following MRI’s acquisitions of Qube and UK-based Real Asset Management, which was announced last month, the combined company now serves 5,500 clients with a global team of more than 1,000 employees. MRI’s 350 employees in the UK reportedly make it one of the largest property tech providers in the country, and in Europe as a whole.
Patrick Ghilani, chief executive officer of MRI Software, stated:
The global real estate sector is growing at unprecedented rates, with investors and capital seamlessly crossing borders and spanning continents. The union of MRI Software and Qube Global Software establishes a technology powerhouse to support investors, agents, and occupiers globally and locally. 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.
Qube’s extensive property and financial management capabilities, as well as FM, integrated workplace management systems (IWMS), and space management solutions, complement MRI’s existing real estate software 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 (rentals or leasing services), which are experiencing increased demand in the UK. The acquisition also provides Qube clients access to MRI’s world-class financials and investment suite, including solutions for asset management, scenario modeling, and investor relations.
John Cuppello, CEO of Qube Global Software, remarked:
It’s rare to find two organizations so closely aligned strategically as MRI and Qube, with a long history in the real estate space and a shared vision of providing an open platform that maximizes flexibility and choice for clients. It’s a tremendous time to become a part of MRI, and our capabilities and expertise will play a meaningful role in helping the combined company continue to grow and thrive.
Through the addition of Qube’s offices in the UK, United States, Australia, New Zealand, Hong Kong and Singapore, MRI is well positioned to continue exceeding the demands of its growing global client base with increased in-country resources, says the company. 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.
MRI Software provides innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem is designed to meet the unique needs of real estate businesses — from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI works to liberate real estate companies to elevate their business and gain a competitive edge.
Qube Global Software supplies property and FM software throughout the world. Over the last 40 years it has helped thousands of clients, ranging from small investors to global corporations, manage every aspect of their property portfolios. The company’s products can bring increased revenue and efficiency, reduced costs and full access to vital information for every sector of the property industry.