"I'm excited to officially welcome Nikki, Gwen, and the rest of the Loci team to MRI. This acquisition strengthens our MRI @Work capabilities and enables us to scale and better support our commercial clients in their business growth. We're particularly excited to add Loci's outsourced lease administration services to our portfolio, helping clients automate manual tasks, reduce costs, and accelerate time to value," said MRI Software senior vice president and managing director for APAC David Bowie,

"Loci has been one of our key partners for over 15 years, serving as our primary implementation partner for Property Management X (PMX) in APAC for most of this time. As we integrate Loci's capabilities into our solution suite, our clients will have a more consistent experience and further benefit from our combined PropTech expertise."

Loci Solutions specialises in the implementation of property management systems for property developers, managers, and owners/investors, and also provides value-add outsourced accounting and lease administration services

Loci CEO and co-founder Nikki Steadman will lead the APAC MRI @Work professional services and support team.

"We've felt like an extension of the MRI family for the last 15 years, and it's an honour to be formalising our relationship," she said.

"Creating a united team like this allows an even more integrated approach for our commercial clients. I am really excited about the depth and breadth of service and product we're able to offer together. It's my privilege to now lead the unified team as we work from beginning to end in a client's journey and success."

The financial terms of the transaction were not disclosed.