April 4, 2011: IBM to Acquire TRIRIGA to Accelerate Smart Buildings Initiatives
April 4, 2011
ARMONK, N.Y. - IBM has announced a definitive agreement to acquire privately-held TRIRIGA Inc., a Las Vegas-based provider of facility and real estate management software solutions, which IBM said will accelerate its smart buildings initiatives. Financial terms were not disclosed.
TRIRIGA software helps clients make strategic decisions regarding space usage, evaluate alternative initiatives, generate higher returns from capital projects, and assess environmental impact investments.
According to IBM, facilities investments and operating costs can be more than 30 percent of corporate annual spending. Fifty percent of the lifetime ownership costs of a facility can be driven from its ongoing operation. IBM said it is working with thousands of organizations globally to optimize energy usage and equipment efficiency in office buildings, campuses, resorts, hospitals and cities using IBM smarter buildings software, which includes analytics, automation, and IBM Maximo Asset Management.
“The combination of TRIRIGA and IBM smarter building solutions will deliver the industry’s most comprehensive capabilities that span the needs of all industries for managing facilities and real estate portfolios,” said Florence Hudson, energy and environment executive, IBM. “Having one view of building operations worldwide will be a powerful tool to help organizations control and optimize their second-largest corporate expense - property.”
TRIRIGA will strengthen IBM smarter buildings solutions by adding such functions as:
• 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 possible. For example, managers can assess whether to replace the HVAC system or replace a roof on a building by helping determine which is a better return-on-investment and assessing trade-offs in identifying investment priorities.
• 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. For example, 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.
“Together, IBM and TRIRIGA will offer the most comprehensive facility and real estate management solution for clients around the world,” said George Ahn, president and CEO of TRIRIGA. “By combining our intellectual capital with the global reach of IBM, we can help clients dramatically improve their buildings’ operations to become more sustainable and cost efficient.”
TRIRIGA will be integrated into IBM Tivoli Software and IBM Global Business Services. The transaction is expected to close in the second quarter of 2011, subject to regulatory approval and the satisfaction of customary closing conditions. TRIRIGA employs approximately 200 people worldwide.
For more information, visit www.ibm.com/software/tivoli/welcome/tririga.
Publication date: 04/04/2011