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Verdantix - Acquisition Of AgilQuest Propels Tango Into The Top Tier Of Workplace Solution Providers

Guides for Workplace Strategy and Management

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A C Q U I S I T I O N O F A G I L Q U E S T P R O P E L S T A N G O I N T O T H E T O P T I E R O F W O R K P L A C E S O L U T I O N P R O V I D E R S C O P Y R I G H T © V E R D A N T I X L T D 2 0 0 7 - 2 0 2 2 . L I C E N S E D C O N T E N T , R E P R O D U C T I O N P R O H I B I T E D 3 Tango Reserve By AgilQuest Provides Executives With Granular Space Utilization Data To Enhance Hybrid Workplace Strategies In January 2022, following a private equity investment from Berkshire Partners, Tango acquired AgilQuest, a flexible- and hybrid-working solutions firm, to expand its workplace and space management offerings. To better understand this new offering and gauge what it means for heads of facilities, real estate and workplace, Verdantix took a product demonstration from Tango's Bart Waldeck, Chief Strategy and Customer Officer and Torrance Houlihan, Head of Customer Success. This report also leverages insights gathered through Verdantix research on integrated workplace management system (IWMS) solutions, including our 2022 Green Quadrant, which analyses 13 prominent solutions (see Verdantix Green Quadrant: Integrated Workplace Management Systems 2022). The IWMS category is now referenced by Verdantix and leading market players as connected portfolio intelligence platforms (CPIPs), reflecting the changing nature of these solutions (see Verdantix Market Insight: The Transformation Of IWMS To Connected Portfolio Intelligence Platforms (CPIP)). Tango Expands Its Workplace Solution Offering Through The Acquisition Of Flexible-Working Solution Provider AgilQuest Headquartered in Dallas, Texas, Tango is a provider of multi-tenant cloud-based CPIP and store lifecycle management (SLM) software. The software provider: • Launched in 2008 as a provider of store lifecycle management software. Tango started as an SLM solution supplier, and was founded by Pranav Tyagi in 2008. Tango's first software offering was a multi-tenant cloud-based Software as a Service (SaaS) application for retail and restaurant firms. Tango differentiated its SLM solution by embedding artificial intelligence (AI) and machine learning (ML) models from day one, enabling firms to run advanced analytics. The solution helped retailers evaluate existing real estate portfolios, identify optimal locations for new stores and forecast the performance of different sites using predictive modelling. • Extended its software portfolio to the corporate real estate sector. Over the past 10 years, Tango has focused on developing new modules across space, workplace, asset and maintenance management, transforming into an end-to-end IWMS platform supplier (see Figure 1). Since expanding its solution and target customer base, Tango has grown to service an over 70% non-retail customer base, showing strong momentum in the corporate real estate market. Its customer portfolio now includes large retailers, such as Dunkin' Brands and Wendy's, and corporate occupiers, such as Cushman & Wakefield and Microsoft. • Acquired AgilQuest to enhance existing space and workplace management capabilities. In December 2021 Tango received its first private equity investment from Berkshire Partners to expand its geographic reach and enhance existing products. Then in January 2022 Tango acquired AgilQuest, a software provider that has focused on space optimization and workplace management solutions for the past 27 years. AgilQuest's solution leverages Amazon Web Services (AWS) infrastructure to deliver a secure and scalable SaaS solution that is certified by the Federal Risk and Authorization Management Program (FedRAMP), allowing it to target government and public sector organizations. The AgilQuest acquisition will enable Tango to offer new, enriched capabilities for this era of hybrid workplace strategies, cross-sell solutions and allow Tango to expand its addressable market.

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