MRI Software Acquires Real Estate Solutions Provider Rockend
The acquisition of Rockend extends MRI’s footprint in Australia and New Zealand while adding new solutions for the rental and multi-owner, multifamily property management space.
Global real estate software solution company MRI Software announced this morning that it has acquired Rockend, the market-leading provider of residential property and strata management solutions in the ANZ PropTech sector. The acquisition significantly expands MRI’s presence in the region, bringing the largest residential footprint in Australia under its domain.
Providing solutions to close to 6000 clients, Rockend’s technology is used in the management of over 1.5 million rental properties and 750,000 strata lots in the region. Headquartered in Sydney, its solutions including Property Tree, a cloud-based property management application that, at launch, was the first online solution of its kind in ANZ, server-based property management app Rest Professional, and owner association management software Strata Master.
“Acquiring Rockend represents a milestone in our global growth strategy, and it substantially extends MRI’s footprint in ANZ while paving the way for enhanced innovation and future expansion”, says Patrick Ghilani, Chief Executive Officer of MRI Software.
“The acquisition fits perfectly within our area of expertise, and gives MRI clients in the region access to even more local resources across our comprehensive range of solutions. Rockend clients will likewise benefit from being part of a global provider with a broader set of offerings.”
MRI has a longstanding history in the ANZ region. First entering the market in 1995, it became the first major real estate software provider. Today, its software is used to manage 90,000 commercial lease units, and over 62 million square metres of property.
“Acquiring Rockend greatly extends our capabilities in the multi-owner, multi-family and residential property management space, enhancing and extending the MRI residential solutions suite”, says John Ensign, President and head of international operations at MRI Software.
“What’s more, going forward, Rockend’s expertise and technology in the strata and community management marketplace can be applied to other geographies with similar needs – such as managing condominiums.”
Alister Maple-Brown is Rockend’s Chief Executive Officer. He says, “Demand for property and strata management solutions has surged as housing construction has boomed in Australia and New Zealand, particularly in the major cities. Joining an established global player with the scalability to meet that demand, take our technology to new markets, and provide access to a broad range of related PropTech innovations to our local customers will help strongly position Rockend for continued growth. Additionally, MRI’s commitment to innovation and the industry is very much in line with the Rockend values.”
MRI says that the acquisition of Rockend will enable it to bolster its market presence in ANZ, increase staff, and expand its offerings, enabling the combined companies to service clients in the region even more effectively.
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