February 4, 2008 - Accruent, the leading provider of Real Estate Performance Management (RPM) solutions, announced today that it has completed an all-cash acquisition of FAMIS Software, Inc., based in Irvine, CA, a leading developer of Integrated Workplace Management Systems (IWMS). Combined these companies will deliver the most comprehensive solution in today’s market, spanning the entire real estate and facilities management lifecycle from market planning to administration and operational management.
Together, Accruent and FAMIS enjoy a clear leadership position with more than 400 active customers ranging from retail and corporate users to universities and public sector entities. The new combination offers best-in-class functionality in every product category as well as domain and industry expertise that is unrivalled, making Accruent the partner of choice for real estate and facilities organizations.
“The message is clear,” said Mark Friedman, CEO of Accruent. “The market is searching for a partner that can deliver not just software but a proven capability to deliver an effective end-to-end solution. Customers want to sweep away the fragmented systems and processes that stand between them and clear visibility of these critical operations. This has been our vision, and today we have the scale and the resources to execute.”
The solutions offered by Accruent and FAMIS address a staggering 32% of non-payroll operating expenses. Yet these cash flows, as well as the capital programs dedicated to building, leasing, and operating locations, are not addressed by today’s enterprise software solutions. Until this acquisition, no single supplier had the capability to deliver world-class capabilities across the complete spectrum of RPM and IWMS functionality
“It takes many years and long-term partnership with customers to develop great enterprise applications,” said Michael Ellis, CEO of FAMIS. “By merging our expertise in facilities management with Accruent’s complementary strength in real estate the result is a breadth and depth of capability that is unprecedented.”
“Our research has shown that Best-in-Class enterprises view and manage the entire real estate and facilities management lifecycle in a holistic manner,” notes Andrew Bartolini, vice president of research at Aberdeen Group. “In that context, Accruent’s acquisition of FAMIS and its complementary offering makes perfect sense and aligns their combined solution set with the needs of the marketplace.”
Accruent is the first company to apply information technology to the vital decision-making and operational processes around acquiring and managing real estate, one of the largest capital investments and operating expenses for many organizations. Accruent’s RPM solutions are used by 20% of the Fortune 500, and nearly half of the nation’s top 100 retailers.
IWMS, a more mature software sector, enables organizations to optimize use of their property portfolio. IWMS solutions are used for facilities management, including space planning and optimization, as well as all aspects of building operations and maintenance. FAMIS is a pioneer and leader of the IWMS market with a dominant position in Higher Education. FAMIS serves high-profile clients such as Corning Incorporated, Nortel Networks, Stanford University, University of Southern California, the Commonwealth of Massachusetts and the Province of Alberta.
“Accruent’s comprehensive real estate technology portfolio is used to manage the entire portfolio of real estate assets through a single lens, integrating market planning, site selection, project management, lease administration, and facilities management processes,” said Rob Garf, vice president of retail strategies at AMR Research, “The addition of FAMIS does not only complement Accruent’s current abilities, but also extends the vendor’s industry reach from its core retail market into corporate and higher education.”
Founded in 1995, Accruent leads the industry with a new generation of solutions designed to fully leverage real estate assets and decisions as an enterprise competitive advantage. Accruent Real Estate Performance Management (RPM) solutions maximize the impact that real estate properties – stores, restaurants, local branches, and corporate offices – have on company performance by driving revenue growth, reducing costs and achieving financial compliance. Many of the world’s largest companies, including 20 percent of the Fortune 500 and 40 percent of the Top 100 Retailers use Accruent's solutions. In addition, Accruent couples the broadest and deepest real estate data set and advanced business intelligence to bridge the gap between daily operations and strategy. For more information, please visit www.accruent.com
FAMIS Integrated Workplace Management System (IWMS) is designed by facilities management experts for facilities management experts. FAMIS enables the entire facilities life-cycle—from real estate acquisitions to operations, maintenance, facilities management, project management and performance metrics—to be handled by a single suite of standards-based, web-architected software. The FAMIS suite creates a seamless, collaborative environment in which employees, customers, suppliers, contractors and partners all work as one, on the same page, toward common goals set and monitored by management. The result is a dramatic increase in our clients’ ability to execute their vision, adapt to change and maintain that crucial competitive advantage; not to mention benefit from a hard, quantifiable ROI.