IBM today announced a definitive agreement to acquire privately-held TRIRIGA, a Las Vegas, Nevada-based provider of facility and real estate management software solutions. The move aims to accelerate IBM's smarter buildings initiatives by adding advanced intelligence that improves real estate performance, capital project management and the outcomes of sustainability initiatives.
Financial terms were not disclosed.
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.
IBM is working with thousands of organizations globally to optimize the energy usage and equipment efficiency in office buildings, campuses, resorts, hospitals and cities using IBM smarter buildings software, which includes analytics, automation and IBM Maximo Asset Management.
The transaction is expected to close in the second quarter of 2011, subject to regulatory approval and the satisfaction of customary closing conditions. TRIRIGA employs approximately 200 people worldwide.
The acquisition of TRIRIGA will help accelerate IBM's growth in the smarter buildings market, a key initiative in IBM's Smarter Planet work. Earlier this month, IBM said Smarter Planet projects are estimated to drive $10 billion in revenue for IBM by 2015.