Yardi and ARGUS Software Form Strategic Alliance
HOUSTON, TX, April 28, 2008 – Market leaders, Yardi Systems and ARGUS Software are pleased to announce today the formation of a strategic alliance in conjunction with Yardi’s acquisition of ARGUS Property Management, also known as CTI, and ARGUS INSIGHT Reporting. The alliance and transfer of these products will strengthen each solution provider’s core competency as well as materially advance the path to solving one of the most crucial issues in information technology in the commercial real estate industry today, namely, the integration of data between systems.
The partnership provides for a referral program between each company in North America, Europe, New Zealand and Australia and establishes ARGUS Software as the exclusive reseller of Yardi products in South America, Asia, the Middle East and Africa. Additionally, Yardi will market and sell its recognized property management product, Yardi Voyager Commercial, within ARGUS Zone.
In regard to Yardi’s acquisition of the ARGUS products, Mark Kingston, president and CEO of ARGUS Software, explains that ARGUS considered several options including completely re-engineering the existing property management product in-house as well as trying to iteratively upgrade ARGUS Property Management (CTI) through the normal development cycle.
“Our analysis showed conclusively that it would take far too long to recreate the depth of functionality in ARGUS Property Management (CTI) in a new platform while simultaneously addressing our customer’s pressing needs for data integration and better asset management tools,” notes Kingston.
“Yardi’s ability to most closely match the depth of features in our products created a compelling option for all our customers,” says Kingston, “this alliance will not only strengthen Yardi and ARGUS as the top property management, asset management and valuation solution providers to commercial real estate, but also will serve as a stepping stone to creating greater flexibility in the movement and aggregation of data between systems for our own products as well as the entire commercial real estate community.”
“We welcome the ARGUS Property Management (CTI) and ARGUS INSIGHT Reporting clients and sales, support, and development staff to Yardi,” adds Anant Yardi, the founder and CEO of Yardi Systems. “We are committed to supporting the current CTI platform for as long as its users desire, while providing a next generation solution with unmatched integration and functionality. Our goal is to empower each of our customers in their efforts to optimize and strengthen their operations. Whether moving key data between systems, taking a strategic look at the assets in their portfolio or creating efficiencies in their operation, this alliance between Yardi and ARGUS is a crucial step in helping the industry reach its destination.”
Customers and industry practitioners can learn more about the Yardi and ARGUS alliance at the upcoming ARGUS Software User’s Conference. This conference, called “FUSION 2008” will be co-located with Realcomm 2008 and will be held June 9-10 at the San Diego Convention Center. Yardi Systems will co-sponsor the event with ARGUS.
Go to http://www.argussoftware.com/en/events/usergroupconference.aspx to learn more.
Media Contacts:
Jennifer Brenner Andrade
SVP of Marketing
ARGUS Software
713-341-3630
jandrade@argussoftware.com
Michele Francisco
Publicist
Yardi Systems
800-866-1144
michele.francisco@yardi.com
About ARGUS Software
| ARGUS Software provides universal software and service solutions that reveal, optimize and realize value for the commercial real estate industry. ARGUS Software's products have become the industry standard and provide the complete solution for managing and growing your commercial real estate portfolio. More than 8,000 of the industry's leading owners, managers, financial institutions, brokerages and REITs trust ARGUS Software solutions to improve the visibility and flow of information throughout their critical business processes. These processes include property management, asset valuation, portfolio management, budgeting, forecasting, reporting and lease management. |
About Yardi
Yardi Systems is the global leader in the design, development, and support of integrated Asset and Property Management software for organizations of all sizes. For more than 25 years, Yardi's technology and services have led the industry through responsiveness and innovation, becoming the premier application for real estate software solutions worldwide. Yardi's software is client-driven and serves more than 15,000 businesses, corporations, and government agencies, representing more than 5 billion square feet of commercial space and 5 million residential units globally. Headquartered in Santa Barbara, California, Yardi Systems has offices throughout the United States, Canada, Europe, Asia, and Australia. More information about Yardi products and services may be found by visiting www.yardi.com. |
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