ARMONK, N.Y., April 14, 2011 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it has completed the acquisition of TRIRIGA, Inc., a privately-held company based in Las Vegas, Nevada. Financial terms were not disclosed.
On March 22, IBM announced that it had entered into a definitive agreement to acquire TRIRIGA, a leading provider of facility and real estate management software solutions.
Many of the systems that constitute a building - heat, water, sewage, electricity and physical assets - are managed independently and often inefficiently. Collecting, managing and analyzing data in buildings provides actionable insight to energy, space and facilities management.
"The acquisition of TRIRIGA will help accelerate IBM's efforts to bring intelligence in the smarter buildings market," said David Bartlett, vice president, industry solutions, IBM. "Now, real estate and finance executives will have a comprehensive solution that can help reduce operations and energy expense by monitoring and managing their real-estate expenditures and resources."
As a leader in workplace management solutions, TRIRIGA will strengthen IBM smarter buildings solutions by adding these key functions:
Real Estate Portfolio Management, including strategic portfolio planning and lease management --TRIRIGA assists companies in their efforts to optimize building use, reduce occupancy costs and improve lease administration. TRIRIGA software helps companies evaluate future space requirements and make long term planning decisions. For example, using solutions from TRIRIGA, managers can determine future space and growth needs and choose the most financially beneficial options among lease or buy alternatives.
Capital Project Management, such as condition assessment, budgeting, construction estimating and project management -- Effectively evaluating building condition and prioritizing investments are important in maximizing a facility's lifetime value at the lowest cost. For example, using TRIRIGA solutions, property managers can assess whether to replace a roof on a building versus replacing the heating, ventilation and air conditioning (HVAC) equipment by determining which is likely to prove a better return-on-investment and assessing trade-offs in identifying investment priorities.
Energy and Environmental Sustainability, such as monitoring utility costs and consumption, analyzing environmental investments and setting carbon management strategies -- Tracking and managing utility costs, including electricity, gas and water, is the first step companies must take in driving those costs down. Using TRIRIGA software, a company can monitor and track its carbon footprint and reduce greenhouse gases from underperforming facilities. Companies can evaluate the financial and environmental benefit of capital investment decisions focused on energy and environmental efficiency strategies, such as a building retrofit or updating to a more efficient HVAC system.
TRIRIGA will be integrated into IBM Software and IBM Global Business Services.