MRI Software Acquires Proptech CRM Provider Box+Dice

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Cleveland’s MRI Software is expanding its footprint Down Under with its fourth proptech acquisition in just over two years. 

The company on Monday announced that it has acquired Melbourne-based customer management relationship (CRM) provider Box+Dice.

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“MRI Software acquired Box+Dice to strengthen its overall portfolio and to support the sales component of agency work as well as the property management/rental component,” an MRI spokesperson said in a statement. “Bringing the two solutions together gives agents a unified view of their customers, whether those customers are buyers, sellers, landlords, or tenants.”

MRI will widen its focus on the Australia-New Zealand market with the acquisition, the spokesperson added. MRI declined to comment on the price and value of the acquisition. 

The 15-year-old Box+Dice was this year named the most innovative proptech solution in its home country by Proptech Association Australia, a trade group.

Box+Dice adds to MRI’s propTech portfolio, which focuses on property management. Box+Dice has provided CRM services to some of Australia’s biggest and most well-respected real estate companies.

MRI is committed to an open and connected ethos, according to a statement from the company, which means Box+Dice will continue working with alternative property management providers in addition to integrating with MRI PropertyTree, its cloud-based Australian residential property management platform, as well as with other MRI property technology offerings.

“I’m very proud of what Box+Dice has achieved in partnership with our customers over the last 15 years,” Travis Williams, CEO and founder of Box+Dice, said in a statement. “[Monday]’s news propels our innovation deeper and wider across the world. Our customers and team will benefit from MRI’s national and global resources and open and connected platform approach to proptech, so I’m thrilled for Box+Dice to join the MRI family.”

MRI’s head of Asia Pacific operations couched the deal in terms of expansion. 

“The acquisition of Box+Dice is a strategic piece of the puzzle for MRI and the progressive agencies we serve in this region,” David Bowie, managing director and senior vice president (Asia Pacific) for MRI Software, said. “It means agency leaders are now empowered to make decisions that drive profitability and revenue for their entire business, while agents can know, anticipate and better serve the needs of a person throughout their property lifetime in one unified solution.”

MRI’s acquisition of Box+Dice follows its other investments in Australia and New Zealand’s proptech industry, including previous acquisitions Rockend in August 2019, as well as Palace and WhosOnLocation earlier this year.

Philip Russo can be reached at prusso@commercialobserver.com.