CHICAGO—JLL has just entered into an agreement to acquire Corrigo Inc., a Silicon Valley pioneer in cloud-based facility management, a move which will bolster the Chicago-based company's existing RED data and analytics platform. Facility management has grown increasingly complex and demanding, and real estate managers use RED to provide C-suite executives with granular-level data about maintenance, equipment use, building performance, the macroeconomic environment, and many other issues in an easily-digestible manner.
Company officials expect the transaction to close later this month, subject to customary closing conditions.
"Corrigo's platform fits hand-in-glove with RED," Doug Sharp, president of JLL Corporate Solutions, tells GlobeSt.com. "The data we have going forward is going to increase significantly and it will allow us to provide a level of granularity that we've never had before."
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