LOS ANGELES--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired Floored, Inc., a leading producer of SaaS (Software as a Service) solutions, including scalable, interactive 3D graphics technology, for the global commercial real estate industry. Floored gives CBRE’s professionals and clients access to advanced technology, and significantly increases the company’s capabilities to develop technology innovations that enhance marketing and leasing of commercial properties.
“We are very excited to add Floored’s interactive 3D graphics to our growing suite of technology tools,” said Chandra Dhandapani, CBRE’s Chief Digital & Technology Officer. “Many of our leading professionals and clients have been using Floored technology and are very excited about their solutions. It gives our professionals a powerful advantage in the marketplace, enabling them to configure, visualize and compare vacant space and arrange virtual tours. Our clients will continue to have access to these, and future, powerful products.”
Floored’s two main existing SaaS products are:
- Protofit, which allows users to visualize and edit floor plans in 2D and 3D (including accurate external window views from each floor) and to create customized space layouts in real-time. Protofit, which is being rebranded as Floored Plans, has been utilized in over 65 million sq. ft. of properties.
- Luma, which enables a high-quality, interactive, next-generation customized 3D “walk-through” experience for new, unbuilt and repositioned spaces. This technology has been used to visualize space from project concept and design all the way through leasing and marketing efforts and is now being re-branded as Floored Build.
The products are used by property owners like Related, Equity Office, Hines and Beacon Capital.
Floored’s co-founders – Chief Executive Officer David Eisenberg, Chief Technology Officer Dustin Byrne and Vice President of Engineering Judy He – and their 36-person team of engineers, designers, 3D modelers and client support personnel will all join CBRE as part of the acquisition. Mr. Eisenberg will serve as SVP of Digital Enablement & Technology for CBRE’s leasing business (called Advisory & Transaction Services).
“We look forward to working with Dave, Dustin, Judy and their incredibly talented team to develop other innovative capabilities to enable exceptional outcomes for our clients. This will also give us momentum in tapping into the New York digital talent base,” Ms. Dhandapani said.
“We have worked very hard over the past four years to invent groundbreaking technology for commercial real estate,” said Mr. Eisenberg. “We couldn’t be more excited to bring this innovation to the industry’s premier, globally integrated commercial real estate services and investment firm. Together we will build powerful advantages for CBRE’s clients.”
About Floored
Floored, Inc., founded in 2012, is a New York City-based company that creates interactive 3D graphics and technology for the hospitality and commercial, residential, industrial, and retail real estate industries. Floored has worked with hundreds of clients from around the world, with enterprise customers including Related, Equity Office, Hines and Beacon Capital.
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 (based on 2015 revenue). The company has more than 70,000 employees (excluding affiliates) worldwide and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of Floored, Inc. 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. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Floored’s technology into our existing operations as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we 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 other risks and uncertainties to our business in general, please refer to our SEC filings, including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, and our Annual Report on Form 10-K for the fiscal year ended December 31, 2015. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.
