Jones Lang LaSalle Incorporated JLL recently closed the acquisition of the cloud-based facility management solutions provider, Corrigo Incorporated.
The move is expected to bring a transformational shift in the use of automation by the company’s clients, streamlining all operations ranging from initiating and tracking work orders, managing bids, and monitoring completed work to paying invoices.
Corrigo has a strong reputation in the field of facility management with its platform of a solid network of 1 million users managing over 10 million work orders per year across more than 180,000 sites.
We believe that this acquisition is part of JLL’s efforts to invest in technology that will increase productivity and transform with top-class automation. Besides, the addition of Corrigo strengthens and compliments JLL’s existing technology solutions, including the RED data and insights platform.
Lately, strategic acquisitions have been playing a pivotal role in enhancing JLL’s service offerings. Recently, JLL has revealed a deal to acquire Strategic Advisory Group (SAG) in a move to improve its reach in the broader hospitality sector. Prior to the announcement of the SAG deal, the company had revealed the buyout of tenant-focused real estate firm, Cresa South Florida.
During the first nine months of 2015, JLL accomplished as many as 12 acquisitions across Australia, Canada, England, Germany, Japan, Poland, Sweden, Turkey and the U.S. (Read more: JLL’s Acquisition Drive Continues). Going forward, we believe that such strategic acquisitions will help the company capitalize on the improving market environment.
JLL currently carries a Zacks Rank #2 (Buy).
Other well-ranked stocks in the real estate space include Henderson Land Development Co. Ltd. HLDCY, CBRE Group Inc. CBG and Reis, Inc. REIS. All three stocks have the same Zacks Rank as JLL.
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