The all-cash deal will provide an exit for Massachusetts Mutual Life when formally JLL takes over the property management platform developer.

Real estate services provider JLL has agreed to purchase US-based property management software developer Building Engines in a $300m cash deal marking an exit for insurance firm Massachusetts Mutual Life.

Building Engines’ Prism software allows managers of commercial real estate (CRE) to interact with their tenants and easily arrange and carry out functions like building maintenance and manage critical operations and risk. It claims to currently have over 1,000 customers on its platform.

Massachusetts Mutual Life’s corporate venturing unit, MassMutual…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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