MRI Software is acquiring Thesaurus Technology, a UK-based provider of cloud-based, self-service software for residential sales and lettings agents.
The acquisition expands the company’s technology choices for residential property agents, developers, owners and investors in the UK, from smaller-scale systems for local businesses up to fully-tailored, enterprise-level options for the largest organizations.
“We believe in the power of technology to help property businesses of any size identify commercial opportunities, enhance services and create efficiencies,” Dermot Briody, executive managing director of Europe, MRI Software, said in a statement. “The acquisition of Thesaurus Technology widens our comprehensive range of solutions for the UK residential sector, deepens our understanding and expertise in the space and gives us greater reach into the growing SMB market. By further expanding our ability to help clients harness technology across multiple touchpoints for their customers and stakeholders, we can continue to partner with real estate organizations at every stage of their business development.”
Thesaurus offers specialist software for estate and letting agencies to handle activities including tracking sales, updating databases, generating invoices and creating management reports. MRI will continue to support all existing Thesaurus users, as well as bring benefits from the wider range of complementary software solutions in its suite.
This latest development builds upon continued momentum for MRI in the UK, including a number of acquisitions of businesses specializing in residential sales, lettings and property management software over the past 14 months.
In addition, June this year saw the launch of the MRI Residential Suite in the UK, a dedicated platform for the Private Rented Sector, capable of streamlining everything from marketing to resident payments and service requests.
Shea & Co. acted as the exclusive financial adviser to MRI Software and its private equity sponsors, GI Partners and TA Associates.
A year ago, Dealmakers spoke with CEO Patrick Ghilani about the company's big buying spree. And last October, we talked with President John Ensign about the company's acquisition strategy in a Dealmakers Live segment. Here are some of MRI's recent deals: MRI Software acquiring TCAM MRI Software acquires IPM Software MRI snags another UK company MRI adds HAPPY Software to public housing portfolio