Aquicore, a commercial real estate software company with an all-in-one operations platform, has acquired 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 optimisation.
“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,” says 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,” says 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,” says 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.
