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ARGUS to Donate ReXML Intellectual Property Rights to OSCRE
HOUSTON, TX, January 5, 2010 – ARGUS Software today announced that the firm will work closely with OSCRE (Open Standards Consortium for Real Estate) members and partners to produce new global real estate data exchange standards. As a part of this cooperative initiative, ARGUS Software plans to donate the intellectual property rights to the ReXML standard for use by OSCRE.
This contribution will, through OSCRE's consensus-based open real estate standards framework, allow harmonization with and broader acceptance and adoption of related consortium standardization activities.
ARGUS Software is an executive member of OSCRE and this project is the first initiative of its kind since OSCRE Americas and PISCES Ltd. merged in November 2009 to become an international, not-for-profit consortium committed to working with real estate stakeholders in leading the development and delivery of interoperable standards for the real estate industry globally.
"Our commitment to the creation of data standards that can increase the efficiency, consistency and transparency of data standards across the globe runs deep," said Mark P. Kingston, president and CEO of ARGUS Software. "We have been working collaboratively with many industry associations for years and consider this a critical part of the path ahead. Once completed, the effects of consistent data standards that can be used worldwide will absolutely change the way this industry does business."
Catherine Williams, chief executive for the newly merged OSCRE commented: "The creation of global data standards for commercial real estate can only create the desired efficiencies within the market, if they are adopted by the leading solutions providers within the industry. We are delighted to have ARGUS Software's support and donation of the ReXML data standard will have a substantive impact on the progress of our standards initiative."
About ARGUS Software
ARGUS Software is the leading provider of software and solutions for managing the value of real estate investments worldwide. ARGUS Software has a world-class user base consisting of over 90,000 customers and users and has been focused solely on the commercial real estate segment for over 20 years. The ARGUS Software portfolio includes industry-standard products such as ARGUS Valuation - DCF, ARGUS Developer, ARGUS Asset Management and ARGUS Lease CRM.
About ReXML
ReXML is a specification for encoding information concerning portfolios of lease property, tenant, and leased property financial information which is used in property management, lease administration, and investment business processes. ARGUS currently uses the specification within its own product suite and between ARGUS Software and other portfolio management products.
About OSCRE (the Open Standards Consortium for Real Estate)
OSCRE is a not for profit market led initiative that facilitates increased business productivity through the development and delivery of standards across the real property sector. OSCRE's mission is to drive the standards development process among key real estate stakeholders including; owners, tenants/occupants, investors, operators, developers, service providers, regulatory agencies, consulting firms, vendors and suppliers - to benefit all stakeholders and enable the real estate industry to function more efficiently in the digital economy. OSCRE is the only global e-commerce standards body for the real property sector. The organisation is led and sustained by consortium members whose valued financial and professional contributions make OSCRE possible.
Media Contacts:
Jennifer Brenner
VP Marketing
ARGUS Software
Jlbrenner@argussoftware.com
713-341-3630
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