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Colliers International Group Inc
Symbol CIGI
Shares Issued 38,259,117
Close 2019-10-16 C$ 97.62
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Colliers International completes Synergy acquisition

2019-10-16 16:42 ET - News Release

Mr. John Friedrichsen reports


Colliers International Group Inc. has completed its previously announced acquisition of Synergy Property Development Services. The company will merge with Colliers's 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 members of Synergy remain significant shareholders of the combined business under Colliers's 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. Its exceptional, tenured leadership and enterprising team offer full building life cycle services and possess deep sector expertise in corporate, education, health care, 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, chief executive officer of 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, chief executive officer of Colliers in India and founder of Synergy.

About Colliers International Group Inc.

Colliers is a leading global real estate services and investment management company. With operations in 68 countries, its 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.

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