A global software company based out of Austin has finalized the purchase of the historic Echo Hotel in Edinburg, according to a news release.

The news release said the Edinburg Economic Development Corporation made the announcement on Friday. Zoho Corporation plans to redevelop the property into a "state-of-the-art office campus" and signals the expansion of the corporation's operations in the Rio Grande Valley.

Zoho is known for its suite of online business applications, which are used by organizations to manage their operations, according to the news release.

The news release said the Echo Hotel has deep roots in Edinburg history and will be "reimagined" to reflect Zoho's mission and commitment to education and workforce environment.