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Building Engines Acquires Synlio to Bolster CRE Operations Platform
Boston-based building operations platform for commercial real estate owners, operators and occupants, Building Engines, has acquired Synlio, the automated RFP solution for commercial real estate property managers.
Synlio manages the RFP process from creation and management, to vendor communications and comparisons. Synlio’s technology quickly finds quality vendors that meet requirements of a given project. On average, Synlio saves more than 10 hours from the typical RFP through a combination of automation, standardization and communication, according to a press release from Building Engines.
The acquisition is the third that Building Engines has completed as part of the company’s platform growth strategy. Building Engines acquired RDM in May 2019 and AwareManager in May 2018. Building Engines recently received an injection of $12.7 million in private equity funding to support its growth via a build, partner and acquire growth strategy.
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