RALEIGH, N.C., July 10, 2019 /PRNewswire/ -- FM:Systems, a leader in facility management technology that enables facility and real estate professionals to identify, plan and deliver the ideal workplace for every employee, announced today its acquisition of Rifiniti, a provider of advanced analytics for workspace optimization. The company's sophisticated data science and machine learning algorithms propel FM:Systems towards its goal of providing clients with key insights that empower them to make critical business decisions based on highly accurate space utilization trends. With as much as 50% underutilized space in workplaces today, the actionable insights from this advanced technology helps visualize trends, significantly reducing real estate costs by rebalancing and consolidating workspaces while enabling better workspace design and workforce collaboration.
Founded in 2012, Rifiniti's unique technology collects and harmonizes data from diverse sources that exist in environments today such as Wi-Fi access points, badging systems, image processing, lighting, seat sensors and others, which can amount to terabytes of information and billions of data points over a very short period of time.
"The data that comes from the myriad of IoT devices being used in the workplace can have a lot of bumps and ridges, said FM:Systems' VP of Strategy, Brian Haines. "It is often incomplete, and that's where the logic of data science comes in. Rifiniti's advanced statistics and machine learning algorithms fill in the gaps, creating highly accurate visualizations of how workspace is actually utilized. This will be a game-changer for our customers and our industry."
Rifiniti co-founders couldn't be more pleased by the acquisition and for their employees to be a part of FM:Systems. Irina Mladenova, Rifiniti President and co-founder commented "We're delighted to make our best-in-class SaaS workplace analytics solution available to FM:Systems customers and to apply our data science capabilities to a broader set of challenges." Rifiniti's CEO and co-founder, Michael Gresty added, "FM:Systems has been an IWMS/CAFM software leader for many years with an exceptional leadership team and an amazing base of loyal customers. The company is on a fantastic growth trajectory that will transform the CRE sector and we're thrilled to be able to contribute to its future success."
FM: Systems has a 30-year history of helping clients understand how their employees interact with their buildings and utilize space, resulting in cost savings, better employee experience and improved operational outcomes.
"This acquisition moves us closer to achieving our mission," said FM:Systems' CEO, Kurt von Koch. "By simply leveraging systems already in place, like WIFI and security badging, Rifiniti's analytics solution enables our clients to quickly and accurately solve their space utilization questions The algorithms they've written to smooth out this data is fantastic. No one in our industry truly covers the breadth of this. Rifiniti is the perfect complement to what we do, and we look forward to welcoming them into the FM:Systems family."
About FM: Systems
FM:Systems provides technology that enables Facility and Real Estate teams to identify, plan, and deliver the ideal workplace for every employee. Our leading web-based Integrated Workspace Management System (IWMS) software improves management of space, occupancy, renovations, moves, maintenance, property, assets, agile workspaces, employee experience, smart buildings and more. FM:Systems is headquartered in Raleigh, North Carolina, and conducts business throughout the Americas, Africa, Europe and Asia Pacific. For more information about FM:Systems, please visit www.fmsystems.com.
Rifinit Inc. provides rich analytics for workplace optimization. The company's SaaS offering, Optimo™, enables customers with AI-powered analytics to optimize their workspace. Optimo™, enhanced by Rifiniti's deep understanding of corporate real estate (CRE), solves this problem by providing actionable insights that help executives make confident decisions based on highly accurate analytics. Optimo™ assists clients in migrating from the historically time-consuming and often error-prone manual data gathering and analysis required for workplace optimization metrics, such as employee attendance and real estate total cost of occupancy (TCO).