Benzinga | Feb 17, 2021 12:16PM EST

MRI Software Set To Acquire Trimble's Real Estate Solutions Division

* Real estate software company MRI Software inked an agreement to acquire Trimble Inc's (NASDAQ: TRMB) real estate and workplace solutions division, Manhattan. The deal extends the range of MRI's occupier solutions, providing a wider scope of offerings for commercial property owners, operators, and tenants.

* The acquisition's financial terms were not disclosed, and the transaction is estimated to close in the first half of 2021.

* The acquisition complement's MRI's continuing strategic expansion of corporate occupier business, providing clients a 360-degree view of their workplace and simplifying the complexities of managing diverse portfolios.

* Additionally, the acquisition improves MRI's Integrated Workplace Management System (IWMS) offering with robust workplace scheduling and facilities management capabilities.

* The acquisition consolidates MRI's technological footprint and bolsters its client base in North America, Europe, and the Asia Pacific.

* MRI acquired lease accounting, administration, and facilities management provider AMTdirect in January end towards expanding its offerings.

* Price action: TRMB shares are down 3.61% at $72.46 on the last check Wednesday.