SOLON, Ohio, Oct. 29, 2020 /PRNewswire/ -- MRI Software, a global leader in real estate technology, has acquired residential property management software Jenark™ from CoreLogic, Inc. (NYSE: CLGX).
Jenark aligns with MRI's existing product set for the management of residential property portfolios, addressing the unique needs of community and homeowner associations by facilitating processes, operations, transactions, communications, accounting, administration, and reporting. The solution is used by hundreds of management companies and large self-managed communities, representing half a million residential units within the U.S.
"We're delighted to welcome Jenark to the family and further extend the footprint of our comprehensive, end-to-end MRI Living suite," says Patrick Ghilani, Chief Executive Officer of MRI Software. "With this strategic expansion we now serve over 16 million residential units worldwide, and we look forward to bringing the benefits of our scale and innovation to the Jenark users."
Ghilani adds: "We will continue to serve and support Jenark users without interruption, now and into the future. Furthermore, we will offer added value from the range of connected, complementary MRI and partner applications Jenark clients can leverage."
The acquisition of Jenark is MRI's eighth of 2020 to date. It follows the additions of CheckpointID™, RentPayment™ and Lindsey Software to the MRI Living portfolio; lease administration services provider MacMunnis to MRI's global occupier suite; and Housing Partners, Castleton Technology Plc and Orchard Information Systems, which form the new MRI Social Housing offering in the UK and Ireland.
For the acquisition of Jenark, Dickinson Wright PLLC served as MRI Software's legal advisor.
Truist Securities served as CoreLogic's financial advisor.
About MRI Software MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI's comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.