IBM has signed a definitive agreement to acquire privately-held TRIRIGA, a Nevada-based provider of facility and real estate management software offerings.
Through this acquisition, IBM aims to accelerate into smarter buildings initiatives by adding advanced intelligence that improves real estate performance, capital project management and the outcomes of sustainability initiatives.
TRIRIGA software helps clients make strategic decisions regarding space usage, evaluate alternative real estate initiatives, generate higher returns from capital projects, and assess environmental impact investments.
In addition, TRIRIGA will strengthen IBM smarter buildings offerings by adding functions including: Real Estate Portfolio Management, including strategic portfolio planning and lease management; Capital Project Management; and Energy and Environmental Sustainability.
IBM expects to close this transaction by the end of second quarter of 2011.
IBM energy and environment executive Florence Hudson said the combination of TRIRIGA and IBM smarter building offerings will deliver comprehensive capabilities that span the needs of all industries for managing facilities and real estate portfolios.