Equiem, Australia’s tenant experience technology platform for commercial real estate, has acquired Vicinitee, British Land’s commercial property management software platform, for an undisclosed sum.
Vicinitee is a web-based platform that streamlines property management operations and facilitates communications between property owners, occupiers and contractors.
It is currently utilised across 157 properties, including trophy assets The Shard, The Gherkin, The Scalpel, Kings Cross and Broadgate.
”This transaction paves the way for the industry’s first workplace experience platform, encompassing solutions for managing tenant relationships, flex space and property operations in one system. Specifically, Vicinitee’s work order and contractor, visitor and space management technology will be integrated into Equiem’s market-leading tenant engagement, vendor management & analytics platform,” said the company in a statement.
The partnership originated after British Land engaged Equiem to roll out its tenant experience platform across its 28m sq ft portfolio. The rollout began with Broadgate, a 32-acre campus, which includes the new 100 Liverpool Street building, considered one of the most tech-forward innovative office spaces in the UK, and, later this spring will continue with a launch at Paddington Central, British Land’s 11-acre mixed use campus which sits beside the Grand Union Canal and Paddington station.
“There are two things that have become even more critical for landlords as a result of the pandemic – strengthening tenant relationships, and driving operational efficiencies. This acquisition allows Equiem to meet both of those needs, in one platform, and significantly expands our scale and addressable market. The acquisition of Vicinitee triples our UK business and increases Equiem’s global footprint to circa 500 buildings and over 100 million square feet of commercial real estate,” said Gabrielle McMillan, CEO of Equiem.
Sally Jones, Head of Strategy, Digital, and Technology at British Land, commented: “We’re proud of the exceptional service and value Vicinitee has delivered to property owners over the past decade. The role of data and technology in creating great places for our customers and their people is now more important than ever. Our partnership with Equiem is a natural step forward to offering the highest levels of service and experience to everyone across the property management chain. This acquisition creates an unmatched value proposition that we believe clearly defines Equiem as a market leader and preferred partner of landlords globally.”
McMillan added: “This partnership with British Land allows us to expand and refine our offering across a world-class portfolio alongside forward-thinking real estate leaders. British Land is committed to partnering with their occupiers to provide a differentiated workplace experience for employees, and we’re excited to shape our technology around this ethos and commitment.”