Software maker Accruent acquires Boston company

Nov 17, 2014
Austin Business Journal

Real estate software maker Accruent LLC has acquired Boston-based VFA Inc

VFA was founded in 2000 and serves government, education, health care and corporate customers from its offices in the United States, Canada and the United Kingdom, according to a Monday announcement. The deal comes one year after Austin-based Accruent sold for an undisclosed amount a majority ownership stake to Boston private equity firm TA Associates Inc

Accruent, founded in 1995, develops real estate and facilities management software. It employs more than 400 workers

In 2010, the then-California-based company opened a 25-person office in Austin with plans to double its size. It is now ranked No. 5 on the Austin Business Journal's list of the largest area software development firms

During the last four years, Accruent's customer base has grown from 400 to more than 1,200 customers that use the company's software in 56 countries

In late 2012, Accruent acquired Canada-based Evoco Inc. for an undisclosed amount. Evoco — based in Calgary, Alberta — develops retail chain software designed to improve the time to revenue associated with complex store construction programs. The company was founded in 1999

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