Aquicore Acquires Entic to Become the Market Leader in Commercial Real Estate Asset Management Technology
Aquicore consolidates the proptech market with its platform for intelligent real estate operations
WASHINGTON – March 26, 2019 –Aquicore, a leading commercial real estate software company with an all-in-one operations platform, announced today the acquisition of Entic, a best-in-class prescriptive analytics solution that generates targeted recommendations to drive peak utilities and facilities performance for commercial assets. With the acquisition, Aquicore begins to consolidate the fragmented proptech market, cementing its position as the frontrunner in commercial real estate operations and performance optimization.
“I couldn’t be more excited about the merging of these two teams. Together, we will propel the proptech industry forward, giving the commercial real estate industry a powerful solution unlike any it’s ever seen. When experts look back at the evolution of this market, the combining of Aquicore and Entic will be a milestone,” said Aquicore Founder and CEO Logan Soya.
Entic’s prescriptive analytics and building recommendations will be made available through Aquicore’s mobile application and cloud-based platform that provides portfolio-wide visibility, utility budget tracking and tenant billing tools. The addition of Entic’s talent and technical capabilities expands Aquicore’s software offering and launches the company into the hospitality vertical.
“The Entic and Aquicore teams offer an incredibly complementary set of skills that will really change this industry for the better now that we are working in unison,” said Carlos Diaz, co-founder of Entic. Diaz joins Aquicore’s executive team with this transaction.
Aquicore’s decision to acquire Entic is the result of an effort to become a complete portfolio solution for buildings of all sizes across the industry. A significant client is EQ Office, a Blackstone Real Estate portfolio company that manages 50 million square feet of office space, including notable properties such as Chicago’s Willis Tower, the Hughes Center in Las Vegas and Park Avenue Tower in New York City.
“The combination of Entic’s prescriptive analytical platform and Aquicore’s fast, portfolio-level installation will allow for rapid deployment and performance improvement at scale,” said Don Anderson, chief sustainability officer of The Blackstone Group.
Aquicore continues to expand its footprint in the U.S. with the addition of offices in Florida, Massachusetts and California. Now combined, Aquicore and Entic are used across 250 million square feet. The joint company is backed by top institutional investors in real estate technology, including The Blackstone Group, ClearSky, Navitas Capital, Normandy Real Estate Partners and Fifth Wall Ventures.
For more information about the newly combined Aquicore, visit:https://aquicore.com/.
Aquicore is a leading commercial real estate software company with an all-in-one real estate operations and performance optimization platform. Built from the ground up as a portfolio-wide solution, Aquicore’s cloud-based platform tracks, analyzes and predicts key building performance factors in real time to unlock portfolio-grade actionable insights, streamlining overall business operations and increasing property value and operating incomes. With self-installable IoT sensors, Aquicore offers the only asset operations solution on the market that can be implemented in a matter of days - not months. The Aquicore platform is currently deployed at more than 700 office buildings nationwide, including the John Hancock Tower, Salesforce Tower, National Press Building, Promenade and NASCAR Plaza. Aquicore’s clients include Cushman & Wakefield, JBG Smith, Lincoln Property Company, MRP Realty, Under Armour, Facebook, and The World Bank. For more information, visitwww.aquicore.comand follow Aquicore on Twitter @Aquicore.
Michiko Morales (For Aquicore)
Gabriel Marketing Group