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TA Associates invests in MRI Software

Real estate software solutions provider MRI Software has secured an investment from TA Associates, a global growth private equity firm.

GI Partners acquired MRI in June 2015 and will remain an investor in the company, alongside TA Associates.
MRI’s portfolio includes solutions for commercial and multifamily property management, leasing, accounting and finance; offerings for managing the tenant and resident lifecycle; investment management and modelling solutions for optimising the performance of deployed capital; and sophisticated reporting and analytics offerings.
MRI supports its 3,100 global clients from its headquarters in Solon, Ohio, and offices in Atlanta, Dallas, London, Hong Kong, Singapore, Sydney and Toronto.
Since GI Partners’ investment in 2015, MRI Software has experienced considerable growth through product innovation, international expansion, and multiple strategic acquisitions. During this time, MRI has expanded its offerings for the multifamily real estate sector and launched a comprehensive Investment Suite, with solutions to analyse, manage and communicate the performance and risks of real estate assets and investments. MRI also brought on more than 70 partners and added more than 1,000 clients and 160 employees worldwide.
“MRI Software is a leader in real estate technology because of our relentless commitment to delivering value to our clients and partners through exceptional products, services and relationships,” says Patrick Ghilani, chief executive officer of MRI Software. “GI Partners has been a strong supporter and a key contributor to the acceleration of our business, and we look forward to continuing this relationship. Expanding our partnership to include TA Associates, a firm with deep software industry experience and global scale, will provide additional resources to fuel our growth through further expansion of our international footprint and our real estate technology solutions. The combination of these two leading strategic investors will provide greater access to global resources and enables us to invest even more to deliver innovation, flexibility and value for our clients and partners.”
“Since our partnership with MRI Software in June 2015, the company has successfully executed against its growth strategy, rapidly accelerating top line revenue growth, delivering significant levels of product innovation, deepening its presence in international markets, and expanding its open and connected partner ecosystem,” says Travis Pearson, managing director of GI Partners and a member of the MRI Software board of directors. “It has been a pleasure to partner with and support Patrick Ghilani and his management team as they solidified MRI’s leadership in the real estate technology market. We look forward to continuing to support MRI and partnering with TA Associates as the business continues to expand globally.”
“MRI Software has established a differentiated position in the fast-growing real estate software space with a comprehensive, configurable and open platform that meets the unique needs of real estate owners, operators and investors,” says Hythem El-Nazer, a managing director at TA Associates who will join MRI Software’s board of directors. “With its significant investment in product, people and partners, we believe MRI is well positioned to continue growing its leadership position in the commercial, residential and investment management markets. We are excited to partner with Patrick Ghilani and his team, alongside GI Partners, to support the company’s continued innovation and growth.”
Jason Werlin, a managing director at TA Associates, will join MRI Software’s board of directors. In addition to Pearson, Jeff Sheu, a director at GI Partners, will also remain on the board.

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