An international leader in real estate software solutions, MRI Software, has recently announced that they have acquired Thesaurus Technology, a provider of cloud-backed, streamlined software for residential sales and lettings agents in the UK. The news was released at MRI's International Users Conference in London. Acquiring Thesaurus Technology will optimize the company's tech choices for residential property professionals, developers, and investors within the UK, covering those within smaller systems for local business to fully-tailored, enterprise-level options for larger entities.
"We believe in the power of technology to help property businesses of any size identify commercial opportunities, enhance services and create efficiencies," said Dermot Briody, Executive Managing Director of Europe, MRI Software. "The acquisition of Thesaurus Technology widens our comprehensive range of solutions for the UK residential sector, deepens our understanding and expertise in the space and gives us greater reach into the growing SMB market. By further expanding our ability to help clients harness technology across multiple touch-points for their customers and stakeholders, we can continue to partner with real estate organisations at every stage of their business development."
Thesaurus offers specialist software for estate and letting agencies to handle activities including tracking sales, updating databases, generating invoices and creating management reports. The technology is available with pay-as-you-go monthly subscriptions, either in the cloud or installed on desktops. Thesaurus also offers a UK postcode lookup solution through a sister company, which may have applications for many of MRI's current UK residential clients. MRI will continue to support all existing Thesaurus users, as well as bring benefits from the wider range of complementary software solutions in its suite.
"MRI is delivering innovation in the UK residential market, making Thesaurus the perfect addition to its stable," said Kevin Holmes, Director, Thesaurus Technology. "We're proud to be part of MRI's UK growth and are excited that our clients will now be able to take advantage of a greatly enhanced range of technology options."
This latest development builds upon continued momentum for MRI in the UK, including a number of acquisitions of businesses specializing in residential sales, lettings and property management software over the past 14 months. In addition, June this year saw the launch of the MRI Residential Suite in the UK, a dedicated platform for the Private Rented Sector, capable of streamlining everything from marketing to resident payments and service requests.
Shea & Company acted as the exclusive financial advisor to MRI Software and its private equity sponsors, GI Partners and TA Associates.
SOURCE MRI Software
Edited by V. Haviland
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