These days, more and more companies are looking to create greater efficiencies around their real estate investments. But initiatives that improve performance and enhance sustainability call for the right technical solutions.

IBM is dedicating itself to these tools with the recent acquisition of TRIRIGA, a Nevada-based privately held facility and real estate management software solutions provider. Financial terms of the acquisition were not disclosed. The transaction will be completed in the second quarter of 2011, subject to regulatory approvals and customary closing conditions.

TRIRIGA will become a part of IBM Trivoli software and IBM Global Services. TRIRIGA’s software helps facility managers make the most of its real estate investment by enabling decisions around space usage, higher returns from capital projects, and environmental impact investments.

That’s good news given that property and real estate typically represents the second-largest expense on a company's income statement, after employee compensation, according to an IBM press release.  

In fact, facilities investments and operating costs can be more than 30 percent of corporate annual spending.  Fifty percent of the lifetime ownership costs of a facility can be driven from its ongoing operation, added the release.

"The combination of TRIRIGA and IBM smarter building solutions will deliver the industry's most comprehensive capabilities that span the needs of all industries for managing facilities and real estate portfolios," said Florence Hudson, energy and environment executive, IBM, in a statement.  "Having one view of building operations worldwide will be a powerful tool to help organizations control and optimize their second-largest corporate expense – property."