CHICAGO, Oct. 3, 2018 /PRNewswire/ -- JLL (NYSE: JLL) today announced an agreement to acquire ValuD Consulting, a leading provider of IBM software integration and consulting services in the United States and India. The transaction significantly enhances JLL's ability to bring the next generation of technology to its clients through future-focused innovation and deepened expertise in IBM's TRIRIGA*, Maximo** and Watson Internet of Things (IoT) services.***
The acquisition supports JLL's commitment to lead the industry and its clients through digital transformation. It will add 300 highly skilled technology experts—many recruited, trained and certified through ValuD's unique university partnerships—to JLL's specialized Technology Solutions team around the world. This enhanced expertise will provide clients with market-leading technology systems that enable faster, more informed real estate decisions and improved business performance.
"Adding this depth of specialist talent will give our clients access to the best technology expertise and products," said Traci Doane, President, JLL Technology Solutions. "Joining forces with ValuD gives us the exciting opportunity to expand our expertise in IBM digital solutions and more fully explore emerging technologies that include artificial intelligence, cognitive buildings and predictive analytics."
ValuD is a prestigious Gold Accredited IBM Business Partner for the TRIRIGA solution. It was founded in 2009 by Gopi Latpate, who has been involved in the IBM TRIRIGA platform and application since its inception. The company, which has been recognized on the Inc. 5000 list of the fastest growing privately held companies in the United States for the last four years, is owned by Latpate, who is Chief Executive and Technology Officer, and Scott Williamson, Chief Commercial Officer. Both Latpate and Williamson will assume leadership roles in the IBM Practice of JLL's Technology Solutions business.
"By joining JLL, we're bringing together two growth companies with a common culture," Latpate said. "We wanted to find the right partner who has the same drive and is serving the same client base—JLL was a perfect match. Combining our talent, tools and knowledge will drive value for our clients."
The ValuD acquisition, which is expected to close in November subject to customary closing conditions, is another step forward in JLL's ongoing digital transformation. In July, it announced the appointment of former Google executive Vinay Goel who joined as global Chief Digital Product Officer. Previously, JLL launched JLL Spark, a global division dedicated to identifying and delivering new technology-driven real estate service offerings. Recently, JLL Spark announced the creation of its $100 million Global Venture Fund for investment in companies innovating in proptech.
JLL's Technology Solutions offers clients end-to-end technology solutions to help drive better business results from their real estate. It provides advisory, implementation and support around corporate real estate applications, integrated workplace management system (IWMS), business intelligence & analytics and IoT.
* IBM TRIRIGA is an IWMS that manages the lifecycle of a facility. **IBM Maximo is an Enterprise Asset Management (EAM) tool used for managing building operations and processes. *** Watson IoT is a fully managed, cloud-hosted service designed to simplify Internet of Things development.
About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000 as of June 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.