CBRE Buys Software Company
- Apr 20, 2017
CBRE Group Inc. continues to make strides in its technology initiatives with the acquisition of Mainstream Software Inc., a firm that provides mobile and software-as-a-service (SaaS) technology solutions for facilities management operations.
“Owning a suite of key enablement technologies is an integral part of CBRE’s strategy,” said Chandra Dhandapani, CBRE’s chief digital & technology officer, said in a prepared statement. “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.”
Established in 1989 and serving facilities spanning 50 countries, Mainstream provides a proprietary technology that supports tenant work requests, maintenance scheduling and analytics, allowing for an 80 percent reduction in handle time per work order and an 88 percent decrease in administrative support. For CBRE, the proof is already in the pudding; Mainstream currently backs a notable percentage of the commercial real estate services firm’s work order volume.
By bringing the Twinsburg, Ohio-based company under its umbrella, CBRE bolsters the digital and technology-enabled services segment of its Global Workplace Solutions division. It will be a smooth integration, as Mainstream’s userbase of 90,000 includes many of CBRE’s facility managers, clients and vendors.
Mainstream marks CBRE’s second technology acquisition this year. In January, the firm snapped up Floored Inc., a top producer of SaaS solutions, including scalable, interactive 3D graphics technology. “Our goal is to enable superior outcomes for our clients at all stages of the commercial real estate lifecycle by providing selective proprietary and differentiating technologies, while continuing to leverage industry platforms and our partners in the industry ecosystem,” Dhandapani told Commercial Property Executive.