Acquisition bolsters CBRE’s growing competitive advantage in digital and technology capabilities
Los Angeles | April 18, 2017 – CBRE Group, Inc. (NYSE: CBG) today announced that it has acquired the business of Mainstream Software, Inc. (Mainstream), a technology company that provides mobile and software-as-a-service (SaaS) technology solutions for facilities management operations.
Mainstream’s proprietary technology further enhances CBRE’s Global Workplace Solutions (GWS) offering in the area of digital and technology-enabled services.
Mainstream’s technology supports over 90,000 users, including many CBRE facility managers, clients and vendors and processes millions of facility work orders annually. The technology supports tenant work requests, reactive and preventive maintenance scheduling, and analytics for facilities in 50 countries.
Already responsible for collating a significant portion of CBRE’s work order volume, Mainstream becomes a permanent resource in CBRE’s suite of technology products; alongside several other capabilities that enable enhanced service levels and operational savings on behalf of facilities management clients.
“Owning a suite of key enablement technologies is an integral part of CBRE’s strategy,” said Chandra Dhandapani, CBRE’s Chief Digital & Technology Officer. “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.”
“Mainstream’s technology has delivered excellent results for our clients, colleagues, and supplier partners consistently for 15 years” said Matt Werner, President, GWS Enterprise Facilities Management, CBRE. “By acquiring this organization we are bringing a trusted partner into our company, ensuring that CBRE’s scale, expertise, and ability to invest will continue to support and strengthen this technology, creating advantage for our clients going forward.”
Founded in 1989 by Peter Wallace, Mainstream is based in Twinsburg, Ohio.
“My team and I have enjoyed working with CBRE over the years and are excited to join this premier business,” said Mr. Wallace. “We look forward to continuing on our past success to offering a technology tool that allows account teams to meet client needs and enhances their abilities to deliver effective solutions.”
Certain of the statements in this release regarding the acquisition of Mainstream Software, Inc. (Mainstream), that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Mainstream with our existing operations in the U.S., as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including Form 10-K for the fiscal year ended December 31, 2016. Such filings are available publicly and may be obtained from our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
SOURCE: CBRE Group, Inc.