Real estate giant JLL is buying Boston property software firm Building Engines for $300M - The Boston Globe
Summary
It has been a busy week for two of Boston’s best known property-software firms, with Building Engines agreeing to be sold to Chicago-based real estate giant Jones Lang LaSalle and HqO announcing the acquisition of a rival from Europe. Tim Curran will stay with JLL after the real estate giant buys the Boston firm he leads, Building Engines. Curran said Building Engines has more than tripled in size, as measured by staff and revenue, since 2016 when private equity firm Wavecrest Growth Partners invested in it. He said a number of private equity firms and real estate companies took a look at Building Engines when it hit the market earlier this year. HqO’s new investors in the $60 million funding round in April included global real estate brokerage Cushman & Wakefield and Boston construction titan Suffolk.
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