by Brianna Crandall — May 23, 2018 — Santa Barbara, California-based Yardi, provider of investment and property management software for real estate companies worldwide, recently announced the acquisition of Phoenix Broadband, an innovative business technology firm specializing in infrastructure and hardware solutions for coworking spaces. Based in Stirling, Scotland, Phoenix Broadband is known for its Medusabusiness brand. Medusa is a service platform for managing technology resources in a shared workspace.
When multiple companies share a common office space, access to secure, easy-to-manage technology is important. Centralizing access to cloud-based business networks, Internet, Wi-Fi, voice services and more, Medusa provides simple hardware and seamless information technology (IT) for coworking spaces.
Tony Freeth, principal for Medusabusiness, stated:
We are delighted to become part of the Yardi family, and through them, ensure Medusa is the leading network technology powering the boom of flexible workspace in the real estate industry. We believe our clients will benefit tremendously from Yardi’s investment in the future of coworking.
Founded in 2002, Phoenix Broadband’s Medusabusiness delivers seamless IT management in shared workspaces, serving over 700 locations such as business centers, coworking spaces, real estate managers and IT firms, including more than 300 spaces in North America. The team of 10 developers, help desk associates, sales and management team will continue to operate from the company’s office in Scotland.
Gordon Morrell, executive vice president of Yardi, commented:
We are expanding our investments in the coworking arena. Shared workspaces are a growing industry that bridges real estate and technology, areas that continue to be Yardi’s primary focus.
This is the second recent acquisition in coworking technology for Yardi, established in 1984. In late 2017, the company acquired WUN Systems, the Florida-based maker of a software management platform for coworking spaces. Many coworking spaces use both WUN’s platform and Medusa. [See also “Find out how Yardi’s acquisition of WUN Systems could help monetize your vacant or underutilized space” on FMLink.]