Real estate software solutions company MRI Software LLC has acquired CTM Software, a provider of residential real estate workflow and transaction management software. The deal will expand MRI's solutions for real estate agents and give it new capabilities in areas such as document management workflow and electronic signatures. "The acquisition of CTM Software is an ideal entry point for MRI into the extensive U.S. residential real estate agent market," MRI President John Ensign said in a statement. "CTM has been a leader in its home state for more than 15 years with a 90 percent market share among Colorado residential real estate agents. We believe that with MRI's size, resources and ability to scale, we can bring that success nationwide."
PRESS RELEASE SOLON, Ohio, Feb. 7, 2019 /PRNewswire/ -- MRI Software LLC, a global leader in real estate software solutions, today announced the acquisition of CTM Software, a leading provider of residential real estate workflow and transaction management software. This acquisition expands MRI's global residential real estate business for sales, rentals and property management and enhances the company's capabilities in document management workflow and electronic signature solutions. CTM Software was founded in Colorado in 2003 to serve the real estate and title markets. CTM has innovated the real estate agent market by providing rules-based workflow, highly flexible documents and scalability through its SaaS-based, end-to-end real estate transaction management platform. Today, CTM enables agents across Colorado to streamline the residential real estate transaction process. "The acquisition of CTM Software is an ideal entry point for MRI into the extensive U.S. residential real estate agent market," said John Ensign, President and Chief Legal Officer, MRI Software. "CTM has been a leader in its home state for more than 15 years with a 90 percent market share among Colorado residential real estate agents. We believe that with MRI's size, resources and ability to scale, we can bring that success nationwide. Additionally, we look forward to exploring ways to leverage CTM's expertise in workflow, document management and electronic signature to continue improving our property management and financials solutions for existing clients." "Throughout our conversations with MRI, their commitment to developing superior, streamlined real estate software was evident, and it was clear our philosophies were aligned," said Claudio Rielo, Founder and CEO, CTM Software. "By joining MRI, we not only gain access to the size and scale of a global real estate software leader with the reach to bring our solutions across borders, but our expertise in agent solutions means we are able to immediately add to the organization." Shea & Company acted as the exclusive financial advisor to MRI Software and their private equity sponsors, GI Partners and TA Associates. About MRI Software MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI's comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com. MEDIA CONTACT: Chet Murray LEWIS [email protected] SOURCE MRI Software Related Links