SOFTWARE

Austin-based Accruent continues international expansion, acquires UK company

Posted January 3rd, 2018

Austin-based software maker Accruent has expanded its European presence by purchasing United Kingdom-based software company Kykloud, the company said Wednesday. 

Financial terms of the deal were not disclosed. 

The acquisition is the second international deal in the past two months by Accruent, which develops real estate, facilities and equipment management software that the company says is used by more than 7,000 customers in 149 countries. In November of last year, Accruent purchased Amsterdam-based software firm BlueCielo. 

The purchase of Kykloud, which develops mobile software that helps businesses see what expenditures to make on their facilities, is part of a push by Accruent to expand internationally, said Jason Beem, an executive at Accruent. 

"This brings the mobile capabilities part of it to what we already have," Beem said. "We've always been a North American company, but outside of the U.S. and Canada, we've only dipped out toe in the water. Now, we want a real footprint there. By buying BlueCielo, and now Kykloud, we have a real sales force to allow us to truly be a global company."

Accruent has worked with major retailers such as Amazon and Walgreens, as well as institutions such as Harvard University. Its acquisition of Kykloud will add about 100 private and public partners to its network. 

Accruent’s growth has largely come through its acquisitions. Since its founding in 1995, the company has purchased 16 other firms, Beem said, with a recent focus on international companies. About 20 percent of Accruent’s business is now international. 

Accruent is adding about 25 employees through its purchase of Kykloud, Beem said, putting the company’s total workforce just under 1,000. It employs about 350 people at its headquarters in the Domain mix-used development in North Austin. 

Previously based in Santa Monica, Calif., Accruent moved its headquarters to Austin after opening an office here in 2010. In 2016, the company was acquired by San Francisco-based private equity firm Genstar Capital.

Beem said Accruent is planning on further investment and expects to grow its employee base by about 10 percent by the end of the year.

"We're continuing to look at a significant number of acquisitions," Beem said, "as well as on the investment into our own areas and improving our technology and providing more features." 

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