Accruent Acquires Competitor

Santa Monica-based Accruent announced this morning that it has acquired the company's closest competitor. Te quila Software develops software for managing real estate assets, similar to Accruent's contact management software. Both serve companies in managing expenses and ensuring Sarbanes-Oxley compliance. Terms of the acquisition were not disclosed. Accruent said that it will continue development of the RetailLease software it acquired.