Newmark Group, Inc. Acquires Innovative CRE Workflow Solutions Provider Workframe, Inc.
NEW YORK, Oct. 2, 2019 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark") (the "Company"), which operates a leading, global, full-service commercial real estate ("CRE") services business, Newmark Knight Frank ("NKF"), today announced that it has acquired the innovative workflow solutions provider Workframe, Inc. ("Workframe").
The Workframe software tool is a workflow solution that was built to address the unique complexity of the CRE project lifecycle. Newmark's strategic acquisition of Workframe, further solidifies the Company's differentiated, value-add and client-facing technology platforms and is expected to be utilized by NKF professionals and clients to manage a high volume of concurrent projects, seamlessly engage throughout a document-centric workflow, and unite large, geographically distributed teams, often comprised of stakeholders across multiple third-party organizations.
"NKF's superior technology and data analytic platforms empower brokers to offer clients best-in-class advice and anticipate future client needs. Our acquisition of Workframe is a natural enhancement to our proprietary technology tools," stated Jeff Day, Newmark's Chief Strategy Officer.
"Workframe is a fundamental industry distinction for us and we expect it to propel NKF's technology platform, ultimately elevating every aspect of our CRE services globally. Since introducing the software internally early this year, Workframe has added immediate benefits to both our clients and professionals through major NKF verticals, including leasing, capital markets, valuation and advisory, property management and GCS, by enhancing strategic and efficient collaboration and productivity with clients," added NKF's Chief Information Officer, Raj Bhatti.
"The inspiration for Workframe was a shared belief that organizations with large real estate portfolios needed a better way to manage distributed teams across multiple projects. This vision centered on the idea that the industry stood to benefit enormously from workflow automation tools that integrate communication, accelerate project delivery and facilitate greater understanding of trends across multiple initiatives. The Workframe team is thrilled to be joining Newmark," commented Workframe Chief Executive Officer Robert Moore, who along with Matt Smith, was one of the company's founding partners in 2016. "NKF has been an invaluable partner to us, and we're looking forward to deepening our relationship and continuing our work together to deliver a truly differentiated, tech-forward approach to client service."
About Workframe, Inc.
Workframe, Inc.'s Workframe software is a workflow solution designed specifically for the commercial real estate industry. The company offers a web-based software application that provides a portfolio-level view of initiatives, giving large corporate tenants, landlords, brokers and service providers unprecedented visibility into their workflow and actionable data that can be leveraged to drive efficiency and process optimization. Founded by a team of highly experienced entrepreneurs, Workframe currently counts several leading multi-national companies among its growing customer roster. For more information, visit https://workframe.com.
About Newmark Group, Inc.
Newmark Group, Inc. ("Newmark Group") is a publicly traded company that, through subsidiaries, operates as a full-service commercial real estate services business with a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry. Under the Newmark Knight Frank name, the investor/owner services and products of Newmark Group's subsidiaries include capital markets (comprised of investment sales and mortgage brokerage), agency leasing, property management, valuation and advisory, diligence and underwriting. Newmark Group's subsidiaries also offer government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales. Newmark Group's occupier services and products include tenant representation, global corporate services, real estate management technology systems, workplace and occupancy strategy, consulting, project management, lease administration and facilities management. Newmark Group enhances these services and products through innovative real estate technology solutions and data analytics designed to enable its clients to increase their efficiency and profits by optimizing their real estate portfolio.
Newmark Group has relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. Newmark Group's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol "NMRK". Newmark is a trademark/service mark and/or registered trademark/service mark of Newmark Group and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited. Find out more about Newmark at http://www.ngkf.com/, https://twitter.com/newmarkkf, https://www.linkedin.com/company/newmark-knight-frank/, and/or http://ir.ngkf.com/investors/investors-home/default.aspx.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Statements set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
SOURCE Newmark Group, Inc.
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