IBM Closes on Acquisition of TRIRIGA, Inc.
Accelerates Advanced Intelligence for Smarter Buildings Transformation
ARMONK, N.Y., April 14, 2011 - IBM (NYSE: IBM) today announced that it has completed the acquisition of TRIRIGA, Inc., a privately-held company based in Las Vegas, Nevada. Financial terms were not disclosed.
On March 22, IBM announced that it had entered into a definitive agreement to acquire TRIRIGA, a leading provider of facility and real estate management software solutions.
Many of the systems that constitute a building - heat, water, sewage, electricity and physical assets - are managed independently and often inefficiently. Collecting, managing and analyzing data in buildings provides actionable insight to energy, space and facilities management.
"The acquisition of TRIRIGA will help accelerate IBM's efforts to bring intelligence in the smarter buildings market," said David Bartlett, vice president, industry solutions, IBM. "Now, real estate and finance executives will have a comprehensive solution that can help reduce operations and energy expense by monitoring and managing their real-estate expenditures and resources."
As a leader in workplace management solutions, TRIRIGA will strengthen IBM smarter buildings solutions by adding these key functions:
o Real Estate Portfolio Management, including strategic portfolio planning
and lease management --TRIRIGA assists companies in their efforts to
optimize building use, reduce occupancy costs and improve lease
administration. TRIRIGA software helps companies evaluate future space
requirements and make long term planning decisions. For example, using
solutions from TRIRIGA, managers can determine future space and growth
needs and choose the most financially beneficial options among lease or
buy alternatives.
o Capital Project Management, such as condition assessment, budgeting,
construction estimating and project management -- Effectively evaluating
building condition and prioritizing investments are important in
maximizing a facility's lifetime value at the lowest cost. For example,
using TRIRIGA solutions, property managers can assess whether to replace
a roof on a building versus replacing the heating, ventilation and air
conditioning (HVAC) equipment by determining which is likely to prove a
better return-on-investment and assessing trade-offs in identifying
investment priorities.
o Energy and Environmental Sustainability, such as monitoring utility
costs and consumption, analyzing environmental investments and setting
carbon management strategies -- Tracking and managing utility costs,
including electricity, gas and water, is the first step companies must
take in driving those costs down. Using TRIRIGA software, a company can
monitor and track its carbon footprint and reduce greenhouse gases from
underperforming facilities. Companies can evaluate the financial and
environmental benefit of capital investment decisions focused on energy
and environmental efficiency strategies, such as a building retrofit or
updating to a more efficient HVAC system.
TRIRIGA will be integrated into IBM Software and IBM Global Business Services.
For more information, please visit http://www.ibm.com/software/tivoli/welcome/tririga
About IBM Smarter Buildings
Since launching its smarter buildings initiative in February 2010, IBM has created a portfolio of smarter buildings solutions that integrate with building automation software from across the industry. For more information, visit: http://ibm.com/smarterplanet/us/en/green_buildings/ideas/index.html?re=sph
Press Contacts:
Tod FreemanIBM Media Relations415-320-5893tefreema@us.ibm.com
Michael CorradoIBM Media Relations914-766-4635mcorrado@us.ibm.com
SOURCE IBM
