FM:Systems Buys Workspace Management
FM:Systems buys Workspace Management.
FM:Systems buys Workspace Management from Asure Software for $120 million.
The FM stands for Facility Management. Their tech enables facility and real estate people to find, plan, and deliver the ideal workplace for every worker. Workspace Management elevates how, when, and where work gets done. Its systems enhance the room booking process, using proprietary sensor hardware and analytics. Trends emphasize the need to give people quick and easy access to workspaces that let them deliver their best.
Kurt von Koch of FM:Systems said: ‘This acquisition will strengthen and complement our portfolio of workplace solutions. By combining our top-ranked IWMS (Integrated Workplace Management System) and data science platform with Asure’s best in class room scheduling, hotdesking, and workplace sensor solutions we take a giant leap forward in fulfilling our mission to provide technology that enables real estate and facility professionals to identify, plan, and deliver the ideal workplace for each and every employee. We look forward to welcoming the Asure Workplace team into the FM:Systems family.
We are excited to have reached this agreement with Asure Software. With the addition of Asure’s Workspace solutions, we now have two best in class complementary offerings with technology solutions that enable clients to provide the ideal workplace for every employee. The addition of the Asure workplace management portfolio of products and its employees accelerates our momentum to achieve this goal. We look forward to completing the transaction and ensuring a smooth transition.’
Pat Goepel of Asure Software said: ‘This transaction is a great deal for both companies. FM:Systems is a globally recognized Integrated Workspace Management brand, and we know that our Workspace customers, partners, and employees are in good hands, as it's backed by the well-known private equity firm Accel KKR and due to FM:Systems hard-earned reputation for excellence.
This strategic move allows Asure to be laser-focused on our HCM business. Most importantly, it allows us to speed up innovation in our payroll, time and attendance, and consulting business and provides us with the capital to grow and invest in our products, our people, and our clients. As we approach a new decade, we’re continually pushing boundaries to grow and expand within the HCM space by equipping small business owners and resellers across the country with the best workforce solution that streamlines all HR processes and makes work more engaging.
This transaction bolsters Asure’s capital structure as we plan to pay down the majority of our debt. It also increases our mix of recurring revenue to over 90%. While we plan to focus on organic growth with the help of upselling and cross-sell initiatives, we will also be in a strong position to pursue accretive acquisitions. Furthermore, the transaction will be attractive from a tax perspective for our shareholders.'
FM:Systems buys Workspace Management from Asure Software for $120 million.
The FM stands for Facility Management. Their tech enables facility and real estate people to find, plan, and deliver the ideal workplace for every worker. Workspace Management elevates how, when, and where work gets done. Its systems enhance the room booking process, using proprietary sensor hardware and analytics. Trends emphasize the need to give people quick and easy access to workspaces that let them deliver their best.
Kurt von Koch of FM:Systems said: ‘This acquisition will strengthen and complement our portfolio of workplace solutions. By combining our top-ranked IWMS (Integrated Workplace Management System) and data science platform with Asure’s best in class room scheduling, hotdesking, and workplace sensor solutions we take a giant leap forward in fulfilling our mission to provide technology that enables real estate and facility professionals to identify, plan, and deliver the ideal workplace for each and every employee. We look forward to welcoming the Asure Workplace team into the FM:Systems family.
We are excited to have reached this agreement with Asure Software. With the addition of Asure’s Workspace solutions, we now have two best in class complementary offerings with technology solutions that enable clients to provide the ideal workplace for every employee. The addition of the Asure workplace management portfolio of products and its employees accelerates our momentum to achieve this goal. We look forward to completing the transaction and ensuring a smooth transition.’
Pat Goepel of Asure Software said: ‘This transaction is a great deal for both companies. FM:Systems is a globally recognized Integrated Workspace Management brand, and we know that our Workspace customers, partners, and employees are in good hands, as it's backed by the well-known private equity firm Accel KKR and due to FM:Systems hard-earned reputation for excellence.
This strategic move allows Asure to be laser-focused on our HCM business. Most importantly, it allows us to speed up innovation in our payroll, time and attendance, and consulting business and provides us with the capital to grow and invest in our products, our people, and our clients. As we approach a new decade, we’re continually pushing boundaries to grow and expand within the HCM space by equipping small business owners and resellers across the country with the best workforce solution that streamlines all HR processes and makes work more engaging.
This transaction bolsters Asure’s capital structure as we plan to pay down the majority of our debt. It also increases our mix of recurring revenue to over 90%. While we plan to focus on organic growth with the help of upselling and cross-sell initiatives, we will also be in a strong position to pursue accretive acquisitions. Furthermore, the transaction will be attractive from a tax perspective for our shareholders.'
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