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Accruent Acquires VFA, Inc.
Austin, Texas — Nov. 17, 2014 – Accruent, the leader in real estate and facilities management solutions, announced that it has acquired Boston-based VFA, Inc., the leading provider of end-to-end solutions for facilities capital planning and asset management.
According to the International Facility Management Association (IFMA), organizations worldwide invest more than $100 billion annually on renovating and maintaining their facilities and related assets. VFA’s cloud software solutions and consulting services enable customers to assess their real estate portfolios, allocate capital, and make better decisions to support their organizations’ mission and strategy.
“We believe this combination is of strategic significance to our customers and the broader facilities market,” said Accruent chief executive officer Mark Friedman. “For several years, Accruent has pursued an acquisition strategy designed to address the fragmentation of real estate and facilities software solutions.
"By combining the management of the facilities' operating and capital budgets, the two primary needs of all facilities executives, we now provide a unified enterprise solution combining world-class cloud software and consulting services for facilities strategy, planning, management, and operations.”
VFA serves government, education, healthcare, and corporate customers from its offices in the United States, Canada, and the United Kingdom, and has current projects in 35 countries worldwide. The combination brings more than 600 new customers to Accruent.