by Rebecca Walker — March 23, 2011—IBM has announced a definitive agreement to acquire privately-held TRIRIGA, Inc., a Las Vegas, Nevada-based provider of facility and real estate management software solutions. The move aims to accelerate IBM’s smarter buildings initiatives by adding advanced intelligence that improves real estate performance, capital project management and the outcomes of sustainability initiatives.
Financial terms were not disclosed.
TRIRIGA software helps clients make strategic decisions regarding space usage, evaluate alternative real estate initiatives, generate higher returns from capital projects, and assess environmental impact investments.
Greater efficiencies around the operations and management of real estate are critical for organizations with multiple facilities. Property and real estate typically represents the second-largest expense on a company’s income statement, after employee compensation, according to IBM. Facilities investments and operating costs can be more than 30 percent of corporate annual spending.
IBM is working with thousands of organizations globally to optimize the energy usage and equipment efficiency in office buildings, campuses, resorts, hospitals and cities using IBM smarter buildings software, which includes analytics, automation and IBM Maximo Asset Management.
“The combination of TRIRIGA and IBM smarter building solutions will deliver the industry’s most comprehensive capabilities that span the needs of all industries for managing facilities and real estate portfolios,” said Florence Hudson, energy and environment executive, IBM. “Having one view of building operations worldwide will be a powerful tool to help organizations control and optimize their second-largest corporate expense—property.”
More than 200 clients and thousands of users—including over one-third of Fortune 100 corporations across every major industry, as well as seven of the 15 federal executive departments of the U.S. government—use TRIRIGA software to reduce operational costs, increase return on real estate assets and mitigate environmental regulatory risks.
As a leader in the workplace management market, TRIRIGA will strengthen IBM smarter buildings solutions by adding these key functions:
- Real Estate Portfolio Management, including strategic portfolio planning and lease management.
- Capital Project Management, such as condition assessment, budgeting, construction estimating and project management.
- Energy and Environmental Sustainability, such as monitoring utility costs and consumption, analyzing environmental investments and setting carbon management strategies.
TRIRIGA will be integrated into IBM Tivoli Software and IBM Global Business Services. The transaction is expected to close in the second quarter of 2011, subject to regulatory approval and the satisfaction of customary closing conditions. TRIRIGA employs approximately 200 people worldwide.
For more information, see the Web site.
