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JLL buys tech consulting firm ValuD
The Chicago-based commercial brokerage has made inroads in proptech
In its latest prop tech play, JLL acquired ValuD Consulting, an IBM software integration and consulting services firm.
The two firms did not disclose financial terms of the deal, but said 300 ValuD employees will join Chicago-based JLL’s tech team around the world, according to Globe St.
Traci Doane, president of JLL technology solutions, said the acquisition will help the company’s forays into areas including artificial intelligence, cognitive buildings and predictive analytics..
ValuD founder Gopi Latpate and co-owner Scott Williamson will assume leadership roles in the IBM portion of JLL’s tech operations, the firms said. The Texas-based company has offices in Los Angeles and other cities around the country, and in India.
JLL entered the already-crowded proptech space in June when it launched JLL Spark, a $100 million fund to acquire and cultivate promising real estate tech startups. The company followed up a month later by creating the in-house position of chief digital product officer, and hiring Vinay Goel to fill it. [Globe St.] — John O’Brien