CBRE (CBG) & Kahua Ink Deal To Jointly Develop Application
Zacks Investment Research | Aug 16, 2017 10:54PM ET
CBRE Group, Inc (NYSE:CBG) announced that it has entered into a deal with Kahua to use its Application Platform-as-a-Service network. In line with this global agreement, both the companies will jointly work on Kahua’s application technology. This project will cater to the specific needs of the different segments of the project management supply chain. Moreover, CBRE will have executive representation on Kahua’s board of directors and has made equity investment in Kahua.
The companies believe that this will raise the efficiency of real estate occupiers, owners, contractors, architects and engineers, throughout the supply chain. This deal is a strategic move to collaborate and integrate CBRE’s global clientele with their project teams. The Kahua Network will ease the transition of capital assets by enabling applications, business processes and information to be shared across organizations.
Per CBRE’s management, this cloud-based solution will provide a comprehensive network to manage its real estate and construction projects and thereby unlock significant efficiencies, data and insights.
On the other hand, this deal provides Kahua the platform to expand its coverage in the real estate, design and construction industry through its counterpart’s global footprint.
This highlights the role of CBRE, an innovative market leader, in merging technology solutions and the real estate industry to enhance the lifecycle of capital assets. This will bring significant changes in the management, execution and delivery of assets.
CBRE intends to use this network within its organization and share it with its global customers. In fact, the company introduced the project to its customers across the Americas, EMEA and APAC markets, and is training approximately 5,000 managers worldwide to use the network.
We anticipate this deal to add significant value to the real estate industry.
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