In sync with its disciplined acquisition strategy, Jones Lang LaSalle Incorporated JLL has inked a deal to buy Corrigo Incorporated, a leading cloud-based facility and service management solutions provider. This acquisition, by expanding JLL’s facility management offerings, will likely drive a transformational shift in the use of automation by its clients. Hence, the buyout is expected to be accretive for the Chicago-based real estate operations company, going forward.
Subject to fulfillment of certain customary closing conditions, the deal is anticipated to close later in December. Notably, Corrigo has amalgamated its huge expertise and entrepreneurial skills to produce technology that effectively automates building maintenance and management process. Integration of Corrigo’s best-in-class technology with JLL’s core facility management offerings will help the latter provide substantially better services to its clients.
JLL is a leading full-service real estate firm that provides corporate, financial and investment management services to real estate owners, users and investors worldwide. We believe the above-mentioned deal comes as part of JLL’s efforts to invest in technology that aims to raise productivity and transform the market with top-class automation.
JLL currently carries a Zacks Rank #2 (Buy).
Investors interested in the real estate operations industry may also consider stocks like Colliers International Group Inc. CIGI, Hang Lung Properties Limited HLPPY and Henderson Land Development Co. Ltd. HLDCY. While Colliers International sports a Zacks Rank #1 (Strong Buy), both Hang Lung Properties and Henderson Land Development hold the same Zacks Rank as JLL.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment