MRI Software Has Acquired Thesaurus Technology

Thesaurus Technology Profile

  • Thesaurus Technology is a leading UK-based provider of software for residential sales and lettings agents
  • The company offers specialist software for estate and letting agencies to handle activities including tracking sales, updating databases, generating invoices and creating management reports
  • Thesaurus was established in 1999 and is based in Harrogate, North Yorkshire

MRI Software Profile

  • MRI Software is a leader in business management software solutions to the property management and investment industries as well as to corporate real estate managers
  • As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the multifamily, commercial and investment advisor industries, helping them improve their bottom line and maximize their returns on their diverse business portfolios
  • MRI Software was founded in 1971 and is headquartered in Cleveland
  • MRI Software is a portfolio company of GI Partners and TA Associates, two leading global private investment firms with focuses across a range of sectors including Technology, Media & Telecommunications, Financial & Real Estate Services and Healthcare

Transaction Notes

  • MRI Software’s acquisition of Thesaurus Technology was announced on December 5, 2018; financial terms were not disclosed
  • “The acquisition of Thesaurus Technology widens our comprehensive range of solutions for the UK residential sector, deepens our understanding and expertise in the space and gives us greater reach into the growing SMB market. By further expanding our ability to help clients harness technology across multiple touchpoints for their customers and stakeholders, we can continue to partner with real estate organisations at every stage of their business development.” – Dermot Briody (Executive Managing Director of Europe, MRI Software)
  • “MRI is delivering innovation in the UK residential market, making Thesaurus the perfect addition to its stable. We’re proud to be part of MRI’s UK growth and are excited that our clients will now be able to take advantage of a greatly enhanced range of technology options.” –  Kevin Holmes (Director, Thesaurus Technology)
  • Shea & Company acted as the exclusive financial advisor to MRI Software and its private equity sponsors, GI Partners and TA Associates, on the transaction
Financial terms not disclosed
has acquired
Shea & Company served as the exclusive financial advisor to MRI Software