A global company specialising in estate agency software has acquired British firm CML Software.

MRI Software already owns Qube and Real Asset Management, which were bought last year.

Dermot Briody, executive managing director for Europe, said: “We are very pleased to welcome CML to the MRI Software family of companies.

“CML’s software for residential agencies and portfolio management rounds out MRI’s comprehensive offering for the diverse UK residential market.

“Further, CML adds flagship clients to MRI’s extensive roster and further enhances our team of experts on the ground in the UK.

“The acquisition brings together two fast-growing organisations and delivers the opportunity to further increase market share for MRI, in a sector where many other existing players are being disrupted by market dynamics.”

CML Software’s solutions are specifically designed to address the needs of multi-office estate and lettings agencies.

Al Chetwode, managing director of Reading-based CML Software, said its clients would benefit from greater resources for support, plus access to innovative proptech solutions.