Newmark Group, Inc. Acquires Innovative CRE Workflow Solutions Provider Workframe, Inc.

About this update from Newmark Group, Inc.

NEW YORK, Oct. 2, 2019 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark") (the "Company"), which operates a leading, global, full-service commercial real estate ("CRE") services business, Newmark Knight Frank ("NKF"), today announced that it has acquired the innovative workflow solutions provider Workframe, Inc. ("Workframe"). The Workframe software tool is a workflow solution that was built to address the unique complexity of the CRE project lifecycle. Newmark's strategic acquisition of Workframe, further solidifies the Company's differentiated, value-add and client-facing technology platforms and is expected to be utilized by NKF professionals and clients to manage a high volume of concurrent projects, seamlessly engage throughout a document-centric workflow, and unite large, geographically distributed teams, often comprised of stakeholders across multiple third-party organizations. "NKF's superior technology and data analytic platforms empower brokers to offer clients best-in-class advice and anticipate future client needs. Our acquisition of Workframe is a natural enhancement to our proprietary technology tools," stated Jeff Day, Newmark's Chief Strategy Officer. "Workframe is a fundamental industry distinction for us and we expect it to propel NKF's technology platform, ultimately elevating every aspect of our CRE services globally. Since introducing the software internally early this year, Workframe has added immediate benefits to both our clients and professionals through major NKF verticals, including leasing, capital markets, valuation and advisory, property management and GCS, by enhancing strategic and efficient collaboration and productivity with clients," added NKF's Chief Information Officer, Raj Bhatti. "The inspiration for Workframe was a shared belief that organizations with large real estate portfolios needed a better way to manage distributed teams across multiple projects. This vision centered on the idea that the industry stood to benefit enormously from workflow automation tools that integrate communication, accelerate project delivery and facilitate greater understanding of trends across multiple initiatives. The Workframe team is thrilled to be joining Newmark," commented Workframe Chief Executive Officer Robert Moore, who along with Matt Smith, was one of the company's founding partners in 2016. "NKF has been an invalu...

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