Colliers International Completes Acquisition of Synergy Property Development Services
TORONTO and BANGALORE, India, Oct. 16, 2019 (GLOBE NEWSWIRE) — Leading global commercial real estate services and investment management firm, Colliers International (NASDAQ and TSX: CIGI), has completed its previously announced acquisition of Synergy Property Development Services (“Synergy”). The company will merge with Colliers’ existing operations in India to create a top tier player with more than 1,400 professionals operating from 16 offices, providing investment sales, lease brokerage, valuations, workplace consultancy and property and project management to domestic and international investors, occupiers and developers of real estate. The senior leadership of Synergy remain significant shareholders of the combined business under Colliers’ unique partnership model. Terms of the transaction were not disclosed.
Established in 2003, Synergy is India’s leading project management firm having delivered more than 120 million square feet of projects for investors, developers and occupiers of real estate. Their exceptional, tenured leadership and enterprising team offer full building lifecycle services and possess deep sector expertise in corporate, education, healthcare, aviation, residential, mixed-use, hospitality and retail.“Closing the Synergy transaction establishes Colliers as a top tier player in India, the fastest growing economy in the world, continuing the growth we’ve enjoyed across our Asia business over the past five years,” said David Hand, CEO | Asia Pacific. “Our enterprising culture aligns perfectly with Synergy, which brings a team of highly regarded leaders and professionals. Together, we will continue to drive exceptional results, wherever our clients do business.” “Joining Colliers provides us significant growth opportunities in India by leveraging their global platform and institutional brand. Our team of dedicated professionals consistently exceed expectations and we look forward to accelerating continued success for clients,” said Sankey Prasad, CEO, Colliers | India and Founder, Synergy.About Colliers International Group Inc.Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning approximately 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. GLOBAL CONTACT:
John B. Friedrichsen
Chief Financial Officer | Global
416 960 9500ASIA CONTACT:
Chief Executive Officer │Asia Pacific
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