Yardi Systems Acquires ARGUS Property Management (CTI) and ARGUS INSIGHT Reporting

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Yardi and ARGUS Software Form Strategic Alliance
HOUSTON, TX, April 28, 2008 — Market leaders Yardi Systems and ARGUS Software are pleased to announce that Yardi has acquired ARGUS Property Management, also known as CTI, and ARGUS INSIGHT Reporting, in conjunction with the formation of a strategic alliance between the two software providers. The alliance and transfer of these products will strengthen each solution provider’s core competency, as well as materially advance the path to solving one of the most crucial issues pertaining to information technology in the commercial real estate industry today–namely, integrating data between systems.

The partnership provides for a referral program between each company in North America, Europe, New Zealand and Australia and establishes ARGUS Software as the exclusive reseller of Yardi products in South America, Asia, the Middle East and Africa. Additionally, Yardi will market and sell its recognized property management product, Yardi Voyager™ Commercial, within ARGUS Zone.

In regard to Yardi’s acquisition of the ARGUS products, Mark Kingston, president and CEO of ARGUS Software, explains that ARGUS considered several options, including completely re-engineering the existing property management product in-house and trying to iteratively upgrade ARGUS Property Management (CTI) through the normal development cycle. “Our analysis showed conclusively that it would take far too long to recreate the depth of functionality in ARGUS Property Management (CTI) on a new platform while simultaneously addressing our customers’ pressing needs for data integration and better asset management tools,” notes Kingston.

“Yardi’s ability to most closely match the depth of features in our products created a compelling option for all our customers,” says Kingston. “This alliance will not only strengthen Yardi and ARGUS as the top property management, asset management and valuation solution providers to commercial real estate, but also will serve as a stepping stone to creating greater flexibility in the movement and aggregation of data between systems for our own products, as well as the entire commercial real estate community.”

“We welcome the ARGUS Property Management (CTI) and ARGUS INSIGHT Reporting clients and sales, support, and development staff to Yardi,” adds Anant Yardi, founder and CEO of Yardi Systems. “We are committed to supporting the current CTI platform for as long as its users desire, while providing a next-generation solution with unmatched integration and functionality. Our goal is to empower each of our customers in their efforts to optimize and strengthen their operations. Whether moving key data between systems, taking a strategic look at the assets in their portfolio or creating efficiencies in their operation, this alliance between Yardi and ARGUS is a crucial step in helping the industry reach its destination.”

Customers and industry practitioners can learn more about the Yardi and ARGUS alliance at the upcoming ARGUS Software User’s Conference. This conference, called FUSION 2008, will be co-located with Realcomm 2008 and will be held June 9-10 at the San Diego Convention Center. Yardi Systems will co-sponsor the event with ARGUS.

Go to http://www.argussoftware.com/en/events/usergroupconference.aspx to learn more.

Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255