Yardi acquires Canadian software firm
Yardi, a Santa Barbara-based property management software company, announced Oct. 11 that it had acquired Planimetron, a Toronto company that provides digital visualizations for the real estate industry.
Terms of the deal were not disclosed.
Yardi said it will “rebuild and rebrand” Planimetron’s platform, Propidex, and relaunch it sometime in 2023 as Space Manager, a part of Yardi’s CommercialEdge platform. The product will allow owners and managers of commercial real estate to store, edit and share floor plans and site plans.
“We are excited to welcome the Planimetron team to Yardi,” Arjun Rao, senior director of commercial for Yardim, said in a company news release. “This team brings a wealth of knowledge and experience about commercial real estate, especially with regard to space management within properties. Space Manager will be an exceptional addition to the CommercialEdge suite.”