This Research Note examines a report from Reuters that MRI Software is to be listed in an IPO or sold. We explore the development of the business over the last 10 years, since it was acquired by private equity owners, highlight their software acquisitions for commercial real estate applications addressing integrated workplace management, tenant experience and digital building operations, before speculating on possible strategic buyers.  Transaction Details Reuters reported on 26th September 2025 that the private equity owners of real estate software provider MRI Software are exploring options for the company, including a potential sale or a public listing on a US exchange, according to people familiar with the matter. Any deal for MRI Software, which could happen within the next 12 months, is expected to value the software maker at up to $10 billion, including debt, the sources said. MRI is approaching $1 billion in revenue and generating around $400M in EBITDA. The company […]