Florida-based Entic specializes in the provision of prescriptive analytics solutions
U.S.-based commercial real estate software company Aquicore has announced the acquisition of compatriot firm Entic, which specializes in prescriptive analytics solutions that generates targeted recommendations to drive peak utilities and facilities performance for commercial assets.
With the acquisition, Aquicore said it begins to consolidate the fragmented proptech market.
“I couldn’t be more excited about the merging of these two teams. Together, we will propel the proptech industry forward, giving the commercial real estate industry a powerful solution unlike any it’s ever seen. When experts look back at the evolution of this market, the combining of Aquicore and Entic will be a milestone,” said Aquicore founder and CEO Logan Soya.
Following the acquisition, Aquicore said that Entic’s prescriptive analytics and building recommendations will be made available through Aquicore’s mobile application and cloud-based platform that provides portfolio-wide visibility, utility budget tracking and tenant billing tools. Moreover, the addition of Entic’s technical capabilities expands Aquicore’s software offering and launches the company into the hospitality vertical, the company said.
“The Entic and Aquicore teams offer an incredibly complementary set of skills that will really change this industry for the better now that we are working in unison,” said Carlos Diaz, co-founder of Entic.
“At a time when the commercial real estate industry is being exposed to new technologies like digital twins, artificial intelligence and IoT applications, we are at a critical moment where a historically slow-moving industry is making real strides into the future of asset operations. To stay competitive, asset managers must continue to demand more information, more data, and more tools to create operational excellence across their portfolios,” Soya said in a blog post.
“To meet these demands, we are building a powerful platform that helps our real estate clients work more effectively. We will continue to invest in machine learning and technology that provides data centralization and actionable recommendations to our clients. This necessitates bold innovation and close collaboration with our customers and partners; and in particular, it will require the continued passion of the talented individuals that make up the newly combined Aquicore team.”
The joint company is backed by institutional investors in real estate technology, including The Blackstone Group, ClearSky, Navitas Capital, Normandy Real Estate Partners and Fifth Wall Ventures.
Aquicore’s cloud-based platform tracks, analyzes and predicts key building performance factors in real time to unlock portfolio-grade actionable insights. The Aquicore platform is currently deployed at more than 700 office buildings nationwide, including the John Hancock Tower, Salesforce Tower, National Press Building, Promenade and NASCAR Plaza.
Aquicore’s clients include Cushman & Wakefield, JBG Smith, Lincoln Property Company, MRP Realty, Under Armour, Facebook, and The World Bank.