CBRE Group, Inc. Acquires Mainstream Software
April 18 2017 - 08:30AM
Business Wire
Acquisition bolsters CBRE’s growing competitive
advantage in digital and technology capabilities
CBRE Group, Inc. (NYSE: CBG) today announced that it has
acquired the business of Mainstream Software, Inc. (Mainstream), a
technology company that provides mobile and software-as-a-service
(SaaS) technology solutions for facilities management
operations.
Mainstream’s proprietary technology further enhances CBRE’s
Global Workplace Solutions (GWS) offering in the area of digital
and technology-enabled services.
Mainstream’s technology supports over 90,000 users, including
many CBRE facility managers, clients and vendors and processes
millions of facility work orders annually. The technology supports
tenant work requests, reactive and preventive maintenance
scheduling, and analytics for facilities in 50 countries.
Already responsible for collating a significant portion of
CBRE’s work order volume, Mainstream becomes a permanent resource
in CBRE’s suite of technology products; alongside several other
capabilities that enable enhanced service levels and operational
savings on behalf of facilities management clients.
“Owning a suite of key enablement technologies is an integral
part of CBRE’s strategy,” said Chandra Dhandapani, CBRE’s Chief
Digital & Technology Officer. “Mainstream fits perfectly with
this strategy and our combined product vision will further enable
our professionals to operate more efficiently and provide superior
experiences and outcomes for our clients.”
“Mainstream’s technology has delivered excellent results for our
clients, colleagues, and supplier partners consistently for 15
years,” said Matt Werner, President, GWS Enterprise Facilities
Management, CBRE. “By acquiring this organization we are bringing a
trusted partner into our company, ensuring that CBRE’s scale,
expertise, and ability to invest will continue to support and
strengthen this technology, creating advantage for our clients
going forward.”
Founded in 1989 by Peter Wallace, Mainstream is based in
Twinsburg, Ohio.
“My team and I have enjoyed working with CBRE over the years and
are excited to join this premier business,” said Mr. Wallace. “We
look forward to continuing on our past success to offering a
technology tool that allows account teams to meet client needs and
enhances their abilities to deliver effective solutions.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500
company headquartered in Los Angeles, is the world’s largest
commercial real estate services and investment firm (based on 2016
revenue). The company has more than 75,000 employees (excluding
affiliates), and serves real estate investors and occupiers through
approximately 450 offices (excluding affiliates) worldwide. CBRE
offers a broad range of integrated services, including facilities,
transaction and project management; property management; investment
management; appraisal and valuation; property leasing; strategic
consulting; property sales; mortgage services and development
services. Please visit our website at www.cbre.com.
Forward-Looking Statements
Certain of the statements in this release regarding the
acquisition of Mainstream Software, Inc. (Mainstream), that do not
concern purely historical data are forward-looking statements
within the meaning of the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are made based on our management’s expectations and
beliefs concerning future events affecting us and are subject to
uncertainties and factors relating to our operations and business
environment, all of which are difficult to predict and many of
which are beyond our control. Accordingly, actual performance,
results and events may vary materially from those indicated in
forward-looking statements, and you should not rely on
forward-looking statements as predictions of future performance,
results or events. Numerous factors could cause actual future
performance, results and events to differ materially from those
indicated in forward-looking statements, including, but not limited
to, our ability to successfully integrate Mainstream with our
existing operations in the U.S., as well as other risks and
uncertainties discussed in our filings with the U.S. Securities and
Exchange Commission (SEC). Any forward-looking statements speak
only as of the date of this release. We assume no obligation to
update forward-looking statements to reflect actual results,
changes in assumptions or changes in other factors affecting
forward-looking information, except to the extent required by
applicable securities laws. If we do update one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements. For additional information concerning
factors that may cause actual results to differ from those
anticipated in the forward-looking statements and other risks and
uncertainties to our business in general, please refer to our SEC
filings, including Form 10-K for the fiscal year ended December 31,
2016. Such filings are available publicly and may be obtained from
our website at www.cbre.com or upon request from the CBRE Investor
Relations Department at investorrelations@cbre.com.
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CBRE Group, Inc.Robert McGrath+1 212 984
8267robert.mcgrath@cbre.com
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