MRI Software Has Acquired CTM Software

CTM Software Profile

  • CTM Software is a leading provider of residential real estate workflow and transaction management software
  • CTM is focused on serving the real estate agent market, providing rules-based workflow, highly flexible documents and scalability through its SaaS-based, end-to-end real estate transaction management platform, enabling agents across Colorado to streamline the residential real estate transaction process
  • Founded in 2003, CTM is headquartered in Denver

MRI Software Profile

  • MRI Software is a leading provider of innovative real estate software applications and hosted solutions
  • MRI’s comprehensive and flexible technology platform meets the unique needs of real estate businesses -- from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets
  • 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 CTM was announced on February 7, 2019; financial terms were not disclosed
  • “The acquisition of CTM Software is an ideal entry point for MRI into the extensive U.S. residential real estate agent market. CTM has been a leader in its home state for more than 15 years with a 90 percent market share among Colorado residential real estate agents.  We believe that with MRI’s size, resources and ability to scale, we can bring that success nationwide.  Additionally, we look forward to exploring ways to leverage CTM’s expertise in workflow, document management and electronic signature to continue improving our property management and financials solutions for existing clients.” – John Ensign (President, MRI Software)
  • “Throughout our conversations with MRI, their commitment to developing superior, streamlined real estate software was evident, and it was clear our philosophies were aligned. By joining MRI, we not only gain access to the size and scale of a global real estate software leader with the reach to bring our solutions across borders, but our expertise in agent solutions means we are able to immediately add to the organization.” – Claudio Rielo (Founder and CEO, CTM Software)
  • 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