CoStar Group, a provider of information, marketing and analytic services to the commercial real estate industry, has acquired Resolve Technology, a provider of business intelligence and portfolio management software.
Resolve’s Request and Portfolio Maximiser software offerings allows investment managers to integrate data spread over disconnected systems and excel spreadsheets in one centralised information offering for the management of their real estate investments. Its investment analysis tools consolidate historical, budget, and pro-forma financial and property information. They also tie together information related to assets, debt, and partnerships.
According to CoStar Group, the strategic acquisition is expected to further strengthen the appeal of its PPR’s and Resolve Technology’s offerings to a broad range of investors, financial institutions, and advisory firms engaged in direct real estate investments.
Andrew Florance, president and CEO of CoStar Group, said: CoStar and PPR’s tools can become much more valuable when presented in context with the client’s own asset information. Resolve’s sales efforts can benefit from CoStar’s strong balance sheet and from CoStar’s scale in marketing and sales. In addition, we believe Resolve can also become much more valuable when it uniquely integrates client information with CoStar’s leading independent third party market information and forecasts.
Mr Florance said that the acquisition is in keeping with CoStar’s strategy of capitalising on the current environment to leverage its strong financial position and acquire companies that can support its long-term growth.
Eric Forman, CEO of Resolve Technology, said: I am very excited about the potential to expand our business intelligence and analytics platform under CoStar. Our vision, which is shared with CoStar, is to provide automated processes and technologies that empower the real estate investment industry to make timely, information driven investment decisions.
CoStar said that the acquisition will have no effect on its third quarter results, and its 2009 revenue and earnings.
