by Brianna Crandall — March 29, 2019 — Aquicore, a commercial real estate software company with an all-in-one operations platform, just announced the acquisition of Entic, a prescriptive analytics solution that generates targeted recommendations to drive peak utilities and facilities performance for commercial assets. With the acquisition, Aquicore intends to start consolidating the fragmented proptech market, cementing its position as a frontrunner in commercial real estate (CRE) operations and performance optimization.
Aquicore Founder and CEO Logan Soya commented:
I couldn’t be more excited about the merging of these two teams. Together, we will propel the proptech industry forward, giving the commercial real estate industry a powerful solution unlike any it’s ever seen. When experts look back at the evolution of this market, the combining of Aquicore and Entic will be a milestone.
Entic’s prescriptive analytics and building recommendations will be made available through Aquicore’s mobile application and cloud-based platform that provides portfolio-wide visibility, utility budget tracking and tenant billing tools. The addition of Entic’s talent and technical capabilities expands Aquicore’s software offering and launches the company into the hospitality vertical.
“The Entic and Aquicore teams offer an incredibly complementary set of skills that will really change this industry for the better now that we are working in unison,” said Carlos Diaz, co-founder of Entic. Diaz joins Aquicore’s executive team with this transaction.
Aquicore’s decision to acquire Entic is the result of an effort to become a complete portfolio solution for buildings of all sizes across the industry. A significant client is EQ Office, a Blackstone Real Estate portfolio company that manages 50 million square feet of office space, including notable properties such as Chicago’s Willis Tower, the Hughes Center in Las Vegas and Park Avenue Tower in New York City.
Don Anderson, chief sustainability officer of The Blackstone Group, added:
The combination of Entic’s prescriptive analytical platform and Aquicore’s fast, portfolio-level installation will allow for rapid deployment and performance improvement at scale.
Aquicore continues to expand its footprint in the US with the addition of offices in Florida, Massachusetts and California. Now combined, Aquicore and Entic are used across 250 million square feet. The joint company is backed by top institutional investors in real estate technology, including The Blackstone Group, ClearSky, Navitas Capital, Normandy Real Estate Partners and Fifth Wall Ventures.
Built from the ground up as a portfolio-wide solution, Aquicore’s cloud-based platform tracks, analyzes and predicts key building performance factors in real time to unlock portfolio-grade actionable insights, streamlining overall business operations and increasing property value and operating incomes. With self-installable Internet of Things (IoT) sensors, Aquicore reportedly offers the only asset operations solution on the market that can be implemented in a matter of days, not months.
The Aquicore platform is currently deployed at more than 700 office buildings nationwide, including the John Hancock Tower, Salesforce Tower, National Press Building, Promenade and NASCAR Plaza. Aquicore’s clients are said to include Cushman & Wakefield, JBG Smith, Lincoln Property Company, MRP Realty, Under Armour, Facebook, and The World Bank.
For more information about the newly combined Aquicore, visit the company’s website.