Accruent Acquires Evoco
The acquisition of Evoco illustrates Accruent’s commitment to consolidate the best products, people and customers in the markets it serves
Evoco is a leading provider of SaaS project management, collaboration and bid management solutions for retail store design and construction
Accruent is a major provider of real estate and facilities performance management applications.
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PRESS RELEASE OVERVIEW
Software Equity Group’s Client, Evoco Inc. Acquired by Accruent
SAN DIEGO, CA – December 11, 2012. Software Equity Group, LLC (SEG) announced today its client, Evoco Inc., a leading provider of SaaS project management, collaboration and bid management solutions for retail store design and construction, has been acquired by Accruent, a major provider of real estate and facilities performance management applications. The amount of the transaction was not disclosed.
Evoco’s collaborative, cloud-based suite integrates with leading enterprise systems to streamline and automate business processes including construction bidding, change order management, document management, invoicing and construction and facility inspections, such as SWPPP and Facility Condition Assessments.
“The Evoco team and customers are a strategic addition to Accruent,” said Mark Friedman, chief executive officer of Accruent. “The acquisition illustrates our commitment to consolidate the best products, people and customers in the markets we serve. Evoco is the best-in-class solution for one of the most critical challenges faced by retailers, whose success turns on their ability to deploy capital as efficiently and effectively as possible to drive revenue. This is a primary focus of Accruent’s retail suite, and Evoco perfectly complements and extends our existing project management capability deep into the design and construction process.”
“We’ve grown our business through an amazing customer base with world-class products and a strong emphasis on service and support,” said Alice Reimer, CEO of Evoco. “By joining forces with Accruent, we can accelerate and expand the capabilities we offer Evoco customers and introduce new products to the existing Accruent customers.” Reimer expressed her excitement about the future of the company, stating, “We are now part of the largest independent provider of real estate and facilities solutions. This is an exciting new chapter for the Evoco team where the boundaries of what is possible are dramatically redefined.”