MRI Software Announces Record Quarter Driven by Growth in All Worldwide Regions

Bookings for Q2 2018 Were 69 Percent Higher than the Same Period a Year Earlier; EMEA Experiences Largest YoY Percentage Growth

News provided by

MRI Software

Aug 21, 2018, 09:00 ET

SOLON, Ohio, Aug. 21, 2018 /PRNewswire/ -- MRI Software LLC ("MRI"), a global leader in real estate software solutions, today announced another successful quarter of worldwide growth. In the second quarter of 2018, global demand for MRI Software's comprehensive and connected suite of real estate solutions continued to accelerate, boosting quarterly bookings to an all-time high that was 69 percent more than the same period in 2017.

All global regions experienced significant growth, though EMEA delivered the largest year-over-year percentage growth. The company added 166 new clients in Q2 2018, which is 60 percent more than it won a year earlier, and the number of employees grew by 65 percent.

MRI's global growth strategy of providing open and connected software continues to gain momentum, marked particularly by key accomplishments in EMEA:

Grainger plc, the UK's largest property landlord with with a portfolio of more than 9,000 residential properties valued at £2.7 billion, has chosen MRI as its core software platform to power its digital transformation and growth in the emerging private rented sector (PRS).
Release of a new version of the MRI Residential Suite for the UK includes functionality that addresses the unique needs of the UK PRS market. MRI collaborated closely with UK PRS leaders to adapt the software.

MRI maintained its aggressive approach to growth with two acquisitions in early July: PropSys, a property software solution provider based in Johannesburg, South Africa, and CML Software, a Reading, UK-based provider of residential agency, block management and build-to-rent solutions. These moves mark MRI's third acquisition in the UK, following its 2017 purchases of Qube Global Software and Real Asset Management, and its second in South Africa, following its December purchase of MDA Property Systems.

"I could not be more proud of the MRI team and our achievements in Q2," said Patrick Ghilani, Chief Executive Officer of MRI Software. "We've been on an aggressive growth path, but our people have remained focused. The global market is clearly embracing our open and connected approach to real estate software, and our results speak to both the quality of our solutions and the value we're creating for our clients."

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI's comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Jeff Miller
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SOURCE MRI Software