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Building Engines Acquires Software Company Synlio.

MANews-(C)2009-2019

11 November 2019 - Boston, US-based commercial real estate-focussed building operations platform Building Engines has acquired Arizona, US-based software provider commercial real estate property management automated RFP solution Synlio, the company said.

Terms of the transaction were not disclosed.

Key new features that Synlio will enable on the Building Engines platform include an RFP Template Builder, RFP Automation Using Artificial Intelligence, RFP Activity Log, RFP Vendor Marketplace and a comparative matrix.

The acquisition marks a continued expansion of Building Engines' platform, and extends its employee footprint.

Synlio's office in Scottsdale, Arizona, will become a new Building Engines development location, adding to the new commercial office in New York City, which was obtained through the acquisition of Real Data Management.

Synlio is the third acquisition Building Engines has completed as part of the company's platform growth strategy. Building Engines acquired RDM in May 2019 and AwareManager in May 2018.

Building Engines currently serves more than 750 customers and helps manage over 2.4bn square feet across over 25,000 properties.

The company enables asset owners, owner/managers and third-party operators to deliver the optimal tenant experience by operating their buildings and portfolios in the best and most efficient manner possible.

Synlio manages the RFP process from beginning to end, from creation and management to vendor communications and comparisons, saving time, increasing transparency, reducing costs and providing property managers and building owners with the best vendor for every project.

Country: USA

Sector: Construction/Real Estate

Target: Synlio

Buyer: Building Engines

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U8AZ
Date:Nov 11, 2019
Words:271
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