Austin software maker Accruent acquires Boston software firm

Nov 18, 2014
Austin American Statesman

Austin-based real estate software maker Accruent has made its third acquisition in three months with the purchase of VFA Inc., a Boston-based software company

Founded in 1995, Accruent and develops real estate and facilities management software

The company was based in Santa Monica when it opened an operations center in Austin in 2010. Austin is now its headquarters and the company has more than 400 employees

Accruent’s software is used by more than 4,000 organizations worldwide including 100 universities, U.S. wireless carriers, retailers and hospitals

In August, Accruent broke into the health care industry with the acquisition of Four Rivers Software Systems, based in Pittsburgh, and SiteFM, based in Austin. Both companies sell health care facilities management software

Accruent CEO Mark Friedman said the the health care market is growing because cost pressures have made real estate management an issue for hospitals

VFA was founded in 2000 and serves government, education, health care and corporate customers, with offices in the U.S., Canada and the United Kingdom. The company has 600 customers that include local, state and federal government, primary and secondary schools, universities and corporations

“For several years, Accruent has pursued an acquisition strategy designed to address the fragmentation of real estate and facilities software solutions,” Friedman said. “By combining the management of the facilities operating and capital budgets, we now provide a unified enterprise solution.”

In 2012, Accruent acquired Evoco, based in Calgary, Alberta, for an undisclosed price. Evoco develops software for retail chains managing store construction programs

Boston Private equity firm TA Associates acquired a majority ownership of Accruent for an undisclosed price a year ago

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