The amount of the transaction was not disclosed. Existing investor Vista Equity Partners will retain a significant ownership position. In conjunction with the deal, Hythem El-Nazer, a Director, and Jason P. Werlin, a Principal at TA Associates, will join the company’s Board of Directors.
Founded in 1995 by Mark Friedman, CEO, Accruent offers a comprehensive facilities and real estate management system that provides market planning, site selection, project management, lease administration, facilities and space management software purpose-built for specific industries.
Over the last four years, the company has completed four strategic acquisitions and increased its customer base from 400 to over 1,200 customers in 56 countries including top retailers, Fortune 500 companies, leading universities, wireless carriers, and service providers.
Accruent has offices in Santa Monica, California; Evanston, Illinois; Columbus, Ohio; Calgary, Alberta, Canada; and Hong Kong.