Big buildings direct has announced a $500 million acquisition of building analytics company Syslogic, with the deal expected to close by the end of the year.
The company said the deal will allow the firm to improve its offerings and provide a platform for developers, and that the acquisition will also help the firm further its goals of “fostering the next generation of building technologies and platforms for developers.”
Syslogics provides data-driven solutions that help real estate companies better manage and operate their real estate projects, as well as improve their financial performance and reduce costs.
It has been a key player in the real estate business for more than 40 years.
The deal comes after Big Building Direct made a big splash in 2017, acquiring a large number of large commercial buildings, including the Sheraton New York and Hilton Garden Inn hotels in New York.
It was also the first company to acquire an analytics company with more than $1 billion in market cap.
The acquisition follows a year of acquisitions and a recent merger between the two firms, in which they merged their operations into a new company called Big Building Data.