IBM to buy Las Vegas-based company
International Business Machines Corp. on Tuesday agreed to buy Las Vegas-based Tririga Inc., a Las Vegas-based maker of sustainability building and energy management software, for an undisclosed price.
Anthony Marnell III launched Tririga, which has corporate headquarters at 6720 Via Austi Parkway Suite 500, in 2000. Marnell, who also developed M Resort, serves as chairman of Tririga's board.
Tririga employees were told of the deal early Tuesday morning. Company meetings were held throughout the day to discuss details of the deal, which is expected to close in the second quarter. Tririga Senior Vice President Stan Tims said the company has 100 people working locally. An IBM statement said Tririga has 200 employees worldwide.
Tims said IBM doesn't intend to lay off workers or move the company.
Tririga will become part of IBM Tivoli Software and IBM Global Business Services divisions. Tririga's software helps clients efficiently run capital projects and manage energy use inside buildings. On its website, Tririga lists Teradyne, Canadian Tire, General Electric Co., Nokia, NASA and the U.S. Department of Defense as customers. George Ahn is the company's CEO.
Armonk, N.Y.-based IBM said the deal will help the company accelerate its Smarter Buildings initiatives, which use technology to improve energy efficiency and perform other tasks. IBM launched Smarter Buildings in February 2010.
IBM said that by acquiring Tririga, the company will gain advanced intelligence to improve real estate performance, capital project management and the outcomes of sustainability initiatives.
"Greater efficiencies around the operations and management of real estate are critical for organizations with multiple facilities," IBM said in a statement. "Property and real estate typically represents the second-largest expense on a company's income statement, after employee compensation."
Facilities investments and operating costs can compose more than 30 percent of corporate annual spending, IBM said.
IBM estimated that its Smarter Planets project, which includes its Smarter Buildings products, will generate $10 billion in revenue by 2015. And, Reuters noted, the American Council for an Energy Efficient Economy predicts efficiency upgrades in commercial and industrial buildings could represent a $250 billion market over the next decade.
As Bloomberg News reported, IBM officials have told investors that the company plans to make $20 billion in acquisitions through 2015 to boost Smarter Planets and other growth areas, such as analytics.
Bloomberg News noted that the deal ended IBM's longest acquisition drought since 2003.
IBM shares rose 32 cents, or 0.2 percent, Tuesday to close at $158 on the New York Stock Exchange.
Contact reporter Matthew Crowley at
mcrowley@reviewjournal.com or 702-383-0304.
