IBM yesterday announced it will buy out the Tririga Inc. software firm, which produces real estate management applications, for a sum that has been undisclosed.
The deal, announced on Tuesday, is expected to be wrapped up by the end of the second quarter, IBM announced.
In a statement by IBM, the computer giant said that in acquiring the Las Vegas based Tririga Inc., it would be able to accelerate its program for smarter buildings, which utilize technology in order to cut down on printing and save on energy.
IMB was most interested in Tririga’s software products, as they are well known as some of the best available on the market for helping organizations to optimize the use of buildings. Tririga’s best known software assists organizations in making long-term planning decisions about real estate, while another popular program in their suite is able to evaluate the condition of a building, so that the owners can prioritize where and when upgrades need to be made.
Other Tririga programs include applications that can monitor the environmental impact buildings have on their surroundings, allowing for the owners to identify problem systems and improve them before too much damage is done.
No jobs are thought to be affected by this acquisition. Instead, Tririga and its 200 employees will be swallowed up by the IBM Global Business Services and IBM Tivoli Software divisions.
The move was also well received by stock market investors, with IBM shares appreciating in value by 10 cents on Tuesday afternoon, rising to $157.78 by yesterday’s close.