Tango, a leading provider of cloud-based real estate and facilities management software, announced it has acquired Locatee, a leading workplace analytics solution. Locatee empowers organizations to make fact-based decisions by providing a complete picture of occupancy, driving strategic portfolio decisions, improving operational space utilization, and increasing employee satisfaction. Financial terms of the private transaction were not disclosed.
“The complexities of managing a hybrid workplace mean that organizations are facing an imbalance in space supply and demand, with space utilization rates under 40% on average,” said Pranav Tyagi, President and Chief Executive Officer of Tango. “Organizations are actively seeking to better understand occupancy levels, however existing solutions are often disparate and cost-prohibitive, leaving them struggling to gain accurate insights. With the addition of Locatee, Tango provides a comprehensive, cost-effective solution that empowers them to address critical questions regarding actual occupancy and utilization, leveraging their existing Wi-Fi and hard-wired networks as well as additional data sources such as badge and IoT sensors.”
“We are pleased to join the Tango family and realize the maximum value of Locatee’s occupancy data and analytics platform,” said Benedikt Köppel, Founder & Co-CEO of Locatee. “Tango is a leader in the application of AI/ML in the built environment and Locatee adds a rich occupancy data set to the massive amounts of data Tango already analyzes, which will deliver insights that benefit the entire real estate lifecycle including portfolio strategy, space optimization, maintenance, and sustainability.”
Outfitting an entire real estate portfolio with IoT sensors is not an option for even the world’s largest organizations. Locatee bridges the occupancy data gap by providing instant occupancy data leveraging existing investments in Wi-Fi and ethernet, dramatically reducing costs and delivering a holistic picture of space usage across the entire portfolio. “We are excited to combine occupancy data at the building, floor, and zone level with Tango’s industry leading space management and reservation solutions to provide customers with a complete picture of planned, forecasted and actual occupancy,” said Myriam Locher, CRO & Co-CEO of Locatee.
Locatee’s offices, based in Zurich, Switzerland, will become Tango’s European headquarters serving the company’s international customers. The combined business will serve over 500 customers in more than 140 countries from its primary offices in Dallas, New York, and Zurich.
Frost Brown Todd LLP acted as advisor and legal counsel to Tango and Berkshire Partners on the acquisition of Locatee. Locatee was advised by Lerner Associates Ltd. and Wenger Vieli AG
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