In line with Trimble’s strategy to focus on business areas core to its long-term growth and strategic product roadmap, it has agreed to sell its Manhattan real estate and workplace solutions business to MRI Software (MRI). The transaction is expected to close in the first half of 2021. Financial terms were not disclosed.
The Manhattan Integrated Workplace Management System (IWMS) solutions help real estate occupiers simplify the complexities of managing diverse portfolios by providing an integrated, flexible platform that improves real estate performance, space utilization and employee experience, while reducing costs and ensuring financial compliance. As a result of the divestiture, the Manhattan IWMS solutions will be combined with MRI’s offerings in managing real estate portfolios and businesses.
“As we work on the execution of Trimble’s Connect and Scale 2025 strategy, we are continually evaluating our portfolio of businesses,” said Rob Painter, Trimble president and CEO. “Trimble is refocusing its efforts on the company’s core Connected Construction capabilities, making MRI an ideal fit for the real estate and workplace solutions business.”
Coupled with an open and connected ecosystem that provides expertise and insights to real estate businesses, MRI’s flexible technology platform providesa full scope of solutions for owners, operators and occupiers worldwide.
“This acquisition aligns with MRI’s growth strategy to expand our offerings for the global workplace management market and uniquely positions us to provide a 360-degree view of the workplace for real estate owners, operators and occupiers,” said Patrick Ghilani, chief executive officer of MRI Software.
The sale will not have a material impact on Trimble’s segment or overall financial results.