Brandon Weber, who co-founded Hightower in 2013, cites commonalities between his company and VTS: “we care deeply about the success of our customers and are committed to solving the industry's most significant pain points. He adds that in the coming months, “we'll accelerate our product roadmap and, most importantly, work side-by-side with customers to ensure they have a lasting competitive advantage.”

Romito will continue as CEO of the combined company. Formerly CEO of Hightower, Weber will assume the role of chief product officer at VTS, and will also join the VTS board of directors along with former Hightower board member Ethan Kurzweil, partner at Bessemer Venture Partners.

“The impact of data isn't limited to a single aspect of business — that becomes incredibly clear as we explore the unique ways data has disrupted various industries,” Romito wrote in a commentary for GlobeSt.com this past August. “But simply having data isn't enough. The formula for maximizing the commercial real estate industry's growth potential will include the access to, analysis of and ability to pull actionable insights from that data.”

NEW YORK CITY—Two of the biggest names in commercial real estate technology are joining forces. VTS and Hightower, both headquartered here, said Tuesday they would merge to form the industry's leading leasing and asset management platform under the VTS name.

The combined company will manage a portfolio totaling more than five billion square feet. It will combine the strongest features from the VTS and Hightower platforms, the two companies said Tuesday.

“We're at a pivotal moment in commercial real estate, with the industry beginning to realize technology's true potential,” says VTS CEO Nick Romito, who co-founded the company in 2012. “VTS and Hightower have earned the trust of the top institutional firms, driving significant adoption of both platforms across the industry.”

Given the two teams' combined expertise, Romito adds, “we can elevate our service offering and partner with customers to solve their most complicated problems in real estate. We're broadening our vision to tackle even more ambitious industry challenges around the globe.”

Brandon Weber, who co-founded Hightower in 2013, cites commonalities between his company and VTS: “we care deeply about the success of our customers and are committed to solving the industry's most significant pain points. He adds that in the coming months, “we'll accelerate our product roadmap and, most importantly, work side-by-side with customers to ensure they have a lasting competitive advantage.”

Romito will continue as CEO of the combined company. Formerly CEO of Hightower, Weber will assume the role of chief product officer at VTS, and will also join the VTS board of directors along with former Hightower board member Ethan Kurzweil, partner at Bessemer Venture Partners.

“The impact of data isn't limited to a single aspect of business — that becomes incredibly clear as we explore the unique ways data has disrupted various industries,” Romito wrote in a commentary for GlobeSt.com this past August. “But simply having data isn't enough. The formula for maximizing the commercial real estate industry's growth potential will include the access to, analysis of and ability to pull actionable insights from that data.”