LOS ANGELES--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired Forum Analytics, LLC (Forum), a leading provider of sophisticated modeling and mapping solutions that assists retailers and other firms in planning their location strategies on a local, regional and national basis.
Based in Chicago, Forum is led by Paul Sill, who founded the firm in 2001, and employs a staff of more than 20 statisticians, analysts and programmers. It serves leading retailers and restaurants, such as Ace Hardware, Sephora, Verizon Wireless, Domino’s Pizza, Genuine Parts, Carl’s Jr., and many others. Mr. Sill will remain at the helm of the strategic consulting, management, sales and marketing of Forum’s suite of offerings along with Forum’s dedicated staff to ensure a seamless integration of the firm’s operations.
“More than ever, our clients rely on CBRE for data-based insight in planning and executing consumer-based real estate strategies,” said Anthony Buono, Executive Managing Director, CBRE. “Forum’s sophisticated forecasting solutions, combined with our retail platform and professionals, will help our clients to make better informed, data-driven decisions for location, product assortment and consumer marketing strategies.”
“This is a fabulous opportunity for the industry. Our clients will gain the ability to integrate models in a complete end-to-end real estate management process, and our algorithms and expertise will be available to a new, broader audience,” said Mr. Sill. “We look forward to working with our new CBRE colleagues who share our values of excellence in client service and the highest standards of integrity. Together we will be able to combine our unique data-driven solutions with the unparalleled local market knowledge of CBRE’s 400-plus offices in more than 60 countries.”
Forum’s proprietary tools include SIMMS Online, a web-based mapping platform that visually represents modeling and analytic exercises, Optimizer, a proprietary market optimization algorithm for estimating total unit growth potential, and Cannibalytics, a proprietary modeling algorithm for estimating sales transfer between existing retail units.
The Forum acquisition follows CBRE’s earlier acquisitions of three other premier retail real estate service companies: Indianapolis-based Sitehawk Retail Real Estate (November 2015), Dallas-based United Commercial Realty (January 2015) and Philadelphia-based Fameco (September 2013).
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
“Safe Harbor” Statement Under the U.S. Private Securities Litigation Reform Act of 1995
Certain of the statements in this release regarding the acquisition of Forum Analytics that do not concern purely historical data are forward-looking statements within the meaning of the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including, but not limited to, CBRE’s ability to successfully integrate Forum Analytics with its existing operations globally, as well as other risks and uncertainties discussed in CBRE’s filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release and, except to the extent required by applicable securities laws, CBRE expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If CBRE does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and risks to CBRE’s business in general, please refer to CBRE’s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2015, June 30, 2015 and September 30, 2015. Such filings are available publicly and may be obtained off CBRE's website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.
