Tribe Property Technologies Inc. has agreed to acquire DMSI and its subsidiaries, significantly expanding its footprint in the property management sector with projected annual revenues exceeding $31 million.

Target Information

Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) is a prominent provider of technology-enhanced property management solutions based in Vancouver, BC. Through its wholly-owned subsidiary, Tribe Management Inc., the company has agreed to acquire DMSI. This acquisition includes three of DMSI's operational subsidiaries: DMS Property Management Ltd., Del Management Solutions Inc., and Delcom Management Services Inc. This strategic move will bolster Tribe's presence in both residential rental and commercial property management sectors.

Joseph Nakhla, CEO of Tribe, expressed enthusiasm regarding the acquisition, highlighting its potential to significantly increase annualized revenue run-rate to over $31 million. Each of the DMSI subsidiaries brings unique expertise; for instance, DMS Property specializes in multi-residential rental property management, while Del Management focuses on government contracts and project management services, and Delcom offers commercial management services.

Industry Overview

The property management industry in Canada has shown steady growth, with increasing demand for both residential and commercial property management services. With the surge in urbanization and migration to metropolitan areas, main