TPN Group acquisition ups the SA industry stakes for MRI Software
Acquisition provides deeper tenant insights and risk mitigation for commercial and residential real estate owners.
Real estate software solutions firm MRI Software will not divulge the financial breakdown of its acquisition of South African credit bureau TPN Group, but has emphasised the value of the skill sets it will gain from the deal.
This week MRI Software announced it had acquired Johannesburg-based TPN Group, which serves residential, commercial and education markets in South Africa.
Its portfolio includes verification services for credit, employment, and criminal records, as well as legislation-compliant document packs, market reports, and toolkits.
According to a statement released by MRI Software, TPN, founded in 2000, serves more than 20,000 property and education clients, including landlords, property and institutional investors, property funds, brokers, managing agents, and practitioners.
“TPN is widely known for providing valuable data and insights to the likes of the South African Reserve Bank (SARB), major commercial banks, most of South Africa’s listed Real Estate Investment Trusts (REITs), and a variety of industry bodies,” reads the statement.
“In the face of global economic uncertainty and the financial pressures created by widespread inflation, it’s more important than ever to have accurate, detailed tenant profiles to support decision-making,” said Mark Fairweather, Managing Director of MRI Africa. “TPN is recognised as the most comprehensive authority on tenant behaviour in the region, and we are exceptionally excited to welcome them to the MRI family. We share many clients with TPN, and this combination will enable us to enhance the value we deliver - providing deeper insights, centralising typically disparate processes, and enabling organisational compliance. We look forward to continuing to expand our offerings in the South African market.”
MRI Africa said it attaches great importance to the skills and experience of TPN Group’s employees who will join MRI Software.
The real estate software company added that the TPN Group deal will only impact MRI in South Africa and “Their expertise and experience will be vital to successfully delivering on MRI’s vision for the South African market.”
While South Africa remains a dominant market for MRI, it does operate in other regions on the continent, as well as the Middle East.
Data is the foundation of MRI’s worldwide open and connected ecosystem, and TPN’s established leadership in delivering deep tenant insights complements and strengthens MRI’s capabilities in its property management and accounting software portfolio – bringing clients greater efficiencies and facilitating continued growth.
“Since launching TPN over 20 years ago, we’ve created an unrivalled database of tenant and education information that has helped our clients mitigate risk and optimise cashflow. We are proud to have supported clients across South Africa by enhancing their operations while navigating both change and opportunity alike,” said Chris Dickens, Chief Information Officer of TPN Group. “Joining MRI means our clients will benefit from greater business reach and gain access to enhanced capabilities, supported by scaled organisational structure.”