Massachusetts-based real estate and facility management software provider Planon is acquiring Axonize, an Israeli developer of a cloud-based IoT platform, to strengthen its position in smart building systems.

Axonize complements Planon’s open-platform approach by providing out-of-the-box connections with smart devices and data sources across a number of vendors. Additionally, the acquisition supports Planon’s partnership with Schneider Electric and others, fuelling joint ambitions for the provision of digital twins and enhancing insight into asset and building performance.

“Digitalisation around buildings and facility services will only continue to accelerate over the years to come,” said Pierre Guelen, CEO of Planon. “Availability and secure access to reliable behavioural data is a key prerequisite for our customers in their digitisation, automation and sustainability initiatives.”

Terms of the transaction will not be disclosed. Catapult Advisors acted as financial advisor to Axonize.

“We look forward to this next step in our journey, and we strongly believe that Planon will provide a great home for our customers, employees and technology,” said Janiv Ratson, CEO of Axonize. “We expect the growth of digital transformation in smart enterprises to be exponential. I’m confident that together we can successfully grow the entire notion of smart buildings, as well as smart business across the globe.”

Planon provides real estate and facility management software that enables building and service digitalisation by integrating the diverse landscape of smart building and business technology, creating value for building owners, building users and service providers.

Axonize has developed a no-code IoT platform for smart enterprises that facilitates the connection, monitoring and control of an unlimited number of devices, data sources and systems, as well as the analysing of data streams from multiple devices and sources. The firm provides its technology as software-as-a-service.