IBM Acquires Tririga, Real Estate Software Company
In a move it says will enhance its plans to expand into what it calls the “smarter buildings” market, IBM today said it will acquire Tririga, a Las Vegas-based company that makes real estate management software. Financial terms are not being disclosed.
Remember how IBM recently said at its analyst meeting that projects related to its Smarter Planet initiative will drive $10 billion in revenue by 2015? It also promised to spend $20 billion on software acquisitions over the next five years. This is one of the deals that Big Blue says will help get it there. IDC has pegged the worldwide market for smart buildings at $3.9 billion this year.
Tririga specializes in software that helps its clients get the most out of their real estate portfolio, run capital projects efficiently and manage energy usage inside buildings. Its customers include Nokia, General Electric, NASA and The U.S. Department of Defense.
When you consider that, for large companies, real estate and facilities costs are usually the second-highest line item after salaries and benefits and can account for 30 percent of annual expenses, it makes sense to get into a business that aims to help them keep those costs under control. IBM shares rose 22 cents to 157.90 on the news.