Colliers International acquires Bengaluru-based Synergy Property Development Services

Global property consultant Colliers International on Wednesday said it has acquired a controlling interest in Bengaluru-based Synergy Property Development Services.

The senior leadership of Synergy will remain significant shareholders of the combined business under Colliers' unique partnership model, the consultant said in a statement.

The company, however, did not disclose the deal value.

The combined operations of the two companies has more than 1,400 professionals working from 16 offices in India, providing investment sales, lease brokerage, valuations, workplace consultancy, design services and property and project management to domestic and international investors, occupiers and developers of real estate.

Established in 2003, Synergy is a project management firm having delivered over 120 million sq ft of projects.

"Colliers is the next evolution of our business given our shared culture and commitment to driving exceptional results for clients, Synergy founder and Chairman, Sankey Prasad said.

He will assume the role of Managing Director and Chairman for Colliers in India.

"India is the fastest growing economy in the world, providing an opportune time to elevate the size and depth of our business together with the highly regarded group of professionals from Synergy, said David Hand, CEO (Asia Pacific) of Colliers International.