JLL has agreed to acquire Corrigo Inc, an Oregon-based provider of facility management solutions. No financial terms were disclosed.
Chicago, Dec. 2, 2015 – Consistent with its disciplined approach to strategic acquisitions and investments in innovative technology solutions, JLL (NYSE: JLL) has entered into an agreement to acquire Corrigo Incorporated, a pioneer in cloud-based facility management solutions that improve productivity, increase transparency and provide advanced business analytics. This acquisition will open the door for JLL’s clients to a transformational shift in the way companies use automation to streamline everything from initiating and tracking work orders, managing bids and monitoring completed work to paying invoices.
The transaction is expected to close later this month, subject to customary closing conditions.
“Corrigo has a history of making ground-breaking changes in the industry,” said Greg O’Brien, JLL CEO, Americas. “Their exceptional expertise and remarkable entrepreneurial mindset have led to best-in-class technology that automates much of the building maintenance and management process. With that kind of innovation integrated into our core facility management offerings, we can give our clients access to a new level of service.”
Corrigo’s well-regarded platform and Work Order Network enables facilities management and field service management organizations of all sizes to assume more control over maintenance and repair spend while gaining a better understanding of vendor and technician performance.
From a start up in Silicon Valley in the late 1990s, Corrigo has grown into a cutting-edge company that is highly regarded in the facility management field. What was once seven people in a garage is now a company with a platform used by 1 million people to manage 10 million work orders each year across more than 180,000 sites. The firm’s most recent venture is the launch of GetCruTM, an online marketplace that connects vendors with individuals looking for services in the commercial market.
“Service delivery is about getting it right this time and doing it better the next, and our platform always makes sure service is done right,” said Rick Michaux, Corrigo Chairman and Founder. “Combining JLL’s service line expertise and focus on big data with Corrigo’s predictive analytical capabilities will create even more value for our collective clients. Together, we’ll provide greater value by using technology to not only shine a spotlight on every opportunity to optimize operations but also recommend how to make the most of them.”
This transaction is a continuation of JLL’s strategy to make investments in technology that focus on increasing productivity and transforming the marketplace with advancements that automate end-to-end processes across the industry. Under terms of the deal, Corrigo will become a wholly-owned subsidiary of JLL with standalone sales and operations of its existing products. The company strengthens and complements JLL’s existing technology solutions, including the RED data and insights platform, which offers a full spectrum of tools to uncover areas for improved productivity with customizable dashboards and detailed analytical models.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
Corrigo Incorporated is a software and services company that specializes in the management of facilities in multi-site environments. Founded in 1999, Corrigo has focused from day one on delivering software as a service (SaaS) solutions with emerging technologies, notably wireless. Corrigo customers range from Fortune 50 companies to SMBs. The company’s software is successfully deployed in multiple industries including restaurants, retail, property management, hospitality, health care, homebuilding, manufacturing, distribution and all kinds of service businesses. Billions of dollars in facilities spend flow through the platform every year, supporting more than 180,000 locations worldwide. For more information, visit www.corrigo.com.