[South Africa] MRI Software acquires MDA Property Systems
MRI Software, a global provider of real estate software solutions has acquired MDA Property Systems, a property management and accounting software company based in Cape Town, South Africa.
Founded in 1990, MDA Property Systems dominates the South African real estate market, with approximately 5,000 users and 70 percent of South Africa's listed real estate investment trusts (REITs) using the company's software.
With commercial and residential clients throughout Africa and the Middle East, MDA further expands MRI's fast-growing presence in the EMEA region.
"Africa and the Middle East represent important growth markets for global investors and, therefore, are key to MRI Software's rapid worldwide expansion," said Patrick Ghilani, Chief Executive Officer of MRI Software. "MDA Property Systems has a stellar reputation in these markets, and they've built an extremely loyal following for their innovative and intuitive solutions. MRI also has a rich legacy in the region, having served the African market for more than two decades. Uniting the strengths of both companies, we are well positioned to bring a comprehensive set of real estate software solutions to the region."
MDA clients will benefit from increased investment and innovation into the company's core solutions. Additionally, MRI Software's broad solution set – including the company's Investment Suite, Fixed Asset Accounting and Facilities Management solutions – provides key capabilities for MDA clients managing both domestic and global portfolios. MRI's multinational clients can leverage MDA's capabilities to work more effectively in the Southern African market.
"Combining with MRI Software gives us a global channel for our solutions and a wealth of resources to continue developing our property management software, to both add new capabilities and build integrations with complementary MRI offerings," said Mark Fairweather, managing director of MDA Property Systems. "We are exceptionally excited to join the MRI family and provide international backing to the continued development of our product set for the benefit of our loyal client base. I look forward to joining the MRI team and continuing to lead MDA into the future."
MDA Property Systems is MRI Software's third acquisition this year in the EMEA region. The company acquired UK-based Real Asset Management in September and Qube Global Software in October.
With nearly 2,000 clients and 400 employees in the region, MRI is now the largest real estate software provider in EMEA. MDA will continue to serve its clients without interruption while near-term integration activities will focus on providing expanded offerings to all clients.