MRI Software, a global real estate software firm, announces that it has acquired Palace, a New Zealand-based provider of residential property management solutions.
The acquisition extends MRI’s offering and market presence in New Zealand while giving Palace and its clients access to the innovation, scale and partnerships of a well-established industry leader.
“Our acquisition of Palace is part of MRI’s strategic global growth plan and a welcome addition to our Asia-Pacific business,” says David Bowie, MRI Software’s Senior Vice President and Managing Director, Asia-Pacific.
“Bringing Palace into the MRI fold enhances our ability to serve the New Zealand market by empowering property managers and agencies with solutions that help them keep pace with local reporting and compliance requirements, including the healthy homes standards.”
Founded in 1999 and with offices in Auckland and Wellington, Palace has over 700 clients, who use its solutions to manage more than 150,000 properties. Palace’s extensive partner program, which includes more than 40 partnerships and integrations, will offer expanded flexibility and choice for MRI clients in the region.
Michael Abbott, Palace’s Chief Executive Officer, adds: “Palace and MRI are a great fit. Both companies are firmly committed to an open and connected approach that gives clients the flexibility to integrate the solutions that work best for their business. The deal strengthens MRI’s local expertise, while Palace and its clients gain access to additional property and workplace solutions as well as administrative and financial tools for managing wider property portfolios.”