Backed by K1, the combined company will ‘integrate its product offerings, expand AI capabilities, and scale its global team to further support customers’. KI says the partnership ‘creates a comprehensive platform that will offer commercial property managers leading-edge technology to streamline their operations’. It explained that together, the combined entity serves over 100,000 buildings, comprising over 250 million m2 in 35 countries. It said: “SINGU’s cloud-based software suite brings strength in facility management, maintenance automation, and sustainability reporting, while Micad’s platform adds expertise in asset, space, and compliance solutions.”
K1 says it will ‘continue to invest in both platforms to ensure each remains at the forefront of innovation, delivering significant value to property owners and managers throughout Europe and the rest of the world’. Notable customers of the combined company include Prologis, CBRE, the NHS, Logicor, the University of Cambridge, and Unibail-Rodamco-Westfield.
“This combination creates a rare opportunity to build a unified European platform that addresses the increasing need to digitize property management,” explained Paweł Malon, CEO of the combined entity. “In bringing our capabilities together, we offer commercial real estate managers an end-to-end solution that comprehensively addresses the pain points of managing facilities and facility operations.”
Peter Harris, managing director of Micad, (pictured), added: “With K1’s support, we are combining two mission-critical platforms to accelerate our vision of becoming the premier property management technology across Europe. Our integrated solution will deliver actionable strategic intelligence, empowering facility managers in healthcare, logistics, retail, higher education, government and other verticals to drive efficiency, compliance, and long-term value.”
KI says the investment comes ‘as European real estate undergoes rapid digital transformation, with an increasing focus on tenant centricity and heightened demand for operational efficiency’. It added: “The combined platform delivers preventative, reactive, and predictive maintenance capabilities; compliance management tools; mobile-first operations for on-site technicians and property managers, and automated sustainability reporting – all to meet the comprehensive needs of real estate portfolio managers. In addition, both companies are using AI to automate the management of properties, including AI-produced task management for inspections, AI-driven predictive maintenance, and AI-powered analytics, ultimately automating operational workflows for end users.”
The financial terms of the transaction were not disclosed.