JLL Acquires Tech Firm
- Dec 04, 2015
By Keith Loria, Contributing Editor
The price of the deal was not disclosed.
“We have made a strong push into investing in technology, starting with our real state data and analytics platform, and that was a significant investment and game-changer in the industry, and we are continuing to look for other ways to augment that,” Doug Sharp, JLL’s president of corporate solutions, told Commercial Property Executive. “We saw Corrigo as a terrific way of focusing on increasing productivity for our people and our clients.”
Another key for JLL was the opportunity to strengthen its position in the facility management industry.
Corrigo’s well-regarded platform and Work Order Network enable facilities management and field service management organizations of all sizes to assume more control over maintenance and repair spend while gaining a better understanding of vendor and technician performance.
The acquisition will enable JLL’s clients to a transformational shift in the way companies use automation to streamline everything from initiating and tracking work orders, managing bids and monitoring completed work to paying invoices.
“This acquisition really places our facility management team and capabilities at the forefront of our industry,” Sharp said. “It’s really taking Corrigo’s great technology and automating a lot of what are currently manual activities and automating them to a point where we can be more accurate for our clients, offer better transparence for our clients, and lower cost for our clients.”
As a condition of the deal, Corrigo will become a wholly-owned subsidiary of JLL with standalone sales and operations of its existing products. Corrigo’s most recent venture is the launch of GetCruTM, an online marketplace that connects vendors with individuals looking for services in the commercial market.
“Service delivery is about getting it right this time and doing it better the next, and our platform always makes sure service is done right,” Rick Michaux, Corrigo’s chairman and founder, said. “Combining JLL’s service line expertise and focus on big data with Corrigo’s predictive analytical capabilities will create even more value for our collective clients. Together, we’ll provide greater value by using technology to not only shine a spotlight on every opportunity to optimize operations but also recommend how to make the most of them.”
According to Sharp, the deal is a continuation of JLL’s strategy to make investments in technology that focus on increasing productivity and transforming the marketplace with advancements that automate end-to-end processes across the industry.