Prop-tech consultancy Loci Solutions acquired by MRI Software

Prop-tech consultancy Loci Solutions acquired by MRI Software

Loci's CEO and co-founder Nikki Steadman

After consolidating its customer relationship management (CRM) footprint with the acquisition of formerly ASX-listed PropTech Group for $93.4 million at the start of this year, US multinational MRI Software has wasted little time in adding further to its sprawling list of Australian brands. 

The company has today announced the acquisition of female-founded property technology consulting and outsourced managed services company Loci Solutions Group for an undisclosed sum.

Based in Sydney and founded in 2007 by its CEO Nikki Steadman and CIO Gwenn Dagg, Loci Solutions is known as an MRI certified partner specialising in the implementation of property management systems (PMS) for developers, managers, owners and investors across commercial, industrial, and retail property markets.

It also provides value-add outsourced accounting and lease administration services, as well as concierge support.

Steadman will lead the MRI @Work professional services and support team in the Asia-Pacific region.

"We’ve felt like an extension of the MRI family for the last 15 years, and it’s an honour to be formalising our relationship," Steadman says.

"Creating a united team like this allows an even more integrated approach for our commercial clients.

"I am really excited about the depth and breadth of service and product we’re able to offer together. It’s my privilege to now lead the unified team as we work from beginning to end in a client’s journey and success."

David Bowie, senior vice president and managing director for MRI Software in Asia Pacific, says the acquisition enables the group to scale and better support commercial clients in their business growth.

"I’m excited to officially welcome Nikki, Gwen, and the rest of the Loci team to MRI," Bowie says.

"We’re particularly excited to add Loci’s outsourced lease administration services to our portfolio, helping clients automate manual tasks, reduce costs, and accelerate time to value.

"Loci has been one of our key partners for over 15 years, serving as our primary implementation partner for Property Management X (PMX) in APAC for most of this time."

MRI Software has had a presence in Australia since 1995 and further strengthened its position with the acquisition of Rockend in 2019, followed by the acquisitions of Box+Dice in 2021, and LeaseEagle at the start of 2022. 

In October last year it reached a deal to buy PropTech - a deal that was approved by shareholders and regulators, and completed in February, 2023.

PropTech's brands include VaultRE, VaultEA, EagleCRM, Real Estate Investar, Website Blue, Designly, and RentFind Inspector.

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