Hexagon AB, a Stockholm, Sweden-based provider of digital reality solutions combining sensor, software and autonomous technologies, acquired Projectmates, a Dallas, TX-based SaaS-based, owner-focused, enterprise construction project management software provider.
The amount of the deal was not disclosed.
Headquartered in Dallas, Texas, USA, and serving a wide range of clients and industries with over 100,000 active projects across North America, Projectmates (Systemates, Inc., doing business as Projectmates), will operate within Hexagon’s Geosystems division. The acquisition has no significant impact on Hexagon’s earnings, with a closing subject to customary regulatory approvals – expected over the coming weeks.
Led by CEO Varsha Bhave, Projectmates provides a collaborative platform that improves project execution, cuts costs and delays, increases accountability, and reduces risks. With its technology, the company creates a platform for managing the complete construction life cycle, from planning, bidding, and building to maintaining the facilities. Key features include document and photo management, change management, cost tracking, bid management, fund management, and more. Because its solution is web-based, there is no need for software installations and updates. Projectmates is the chosen program management software in commercial construction with over 300,000+ projects performed by Retailers, Real Estate developers, Educational and Government agencies.
Led by CEO Paolo Guglielmini, Hexagon is a global provider of digital reality solutions which put data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.
Projectmates’ solution complements its existing comprehensive construction portfolio (HxGN Smart Build) used by general contractors and EPCs, which includes enterprise planning and project controls software and reality capture solutions that monitor job site safety and evidence job site progress.
FinSMEs
13/01/2023