Does the merger affect Mainstream Software?
Cleveland, Ohio – January 2007 – The fourth quarter real estate news of 2006 was dominated by the CB Richard Ellis (CBRE) and Trammell Crow Company (TCC) merger. Of course, merging the top two property management companies sweetens their market share. According to Mark Heschmeyer, “based on CB Richard Ellis’s estimate, the combined entities will have 10.5% of the share of the U.S. $24 billion commercial real estate services business. The top 5 companies combine for just a 16.9% market share of the highly diverse industry.”
Other momentum behind the merger is the combining of business strategies, specialties, and resources. Trammell Crow’s domestic and CBRE’s International accounts make for a synergistic powerhouse of a company. As mentioned in the CB Richard Ellis press release, “The company will have combined pro forma 2006 revenues of approximately 4.4 billion and approximately 21,000 employees around the world”.
Service Express is part of TCC’s value offering to their clients. The ServiceExpress software is powered by our CrossForm solution.
In May 2001, TCC contracted with Mainstream Software to implement CrossForm at 40 of their property management customer accounts. TCC required an enterprise maintenance management system, with high volume call center capabilities, and add-on products for customers, vendors and technicians remote interaction with the system. Throughout 40 individual account implementations over the past five years, none have missed their completion target dates.
We anticipate ServiceExpress/CrossForm to remain the standard for the newly merged company. The merger brings great possibility for significant growth, domestically and internationally, for Mainstream Software. We are prepared and enthusiastic about the new opportunities. We will continue to provide the highest quality service in project management, programming, system testing, training, and support.
Resources and related links:
Heschmeyer, Mark 5 Nov 2006 “20-Month Courtship Preceded CB Richard Ellis-Trammell Crow Deal”
December 20, 2006 “CB Richard Ellis Group, Inc. Completes Acquisition of Trammell Crow Company”