US construction developer snaps up Melbourne-based software firm
- 20 March, 2018 05:30
A US-based construction software developer has unveiled plans to acquire QA Software of Melbourne, in an attempt to realise global expansion plans.
Based in Arizona, InEight creates project management software specific to the construction industry, with the acquisition including QA Software’s flagship product, TeamBinder, a document management and collaboration solution.
Operating as a Microsoft Gold application development partner, QA Software was formed in 1995, with offices located in Melbourne, Australia and Colombo, Sri Lanka.
Specifically, the deal is designed to combine InEight’s project management solutions with QA Software’s document management tools, creating solutions for key project stakeholders including contractors, owners and engineers.
“We founded InEight on a vision of developing innovative, proven software solutions that help all capital project stakeholders consistently deliver predictable project outcomes,” InEight CEO, Jake Macholtz, said.
“Today, we reached a significant milestone in achieving this vision with the acquisition of QA Software and its flagship product – TeamBinder.
“This acquisition reinforces our unique ability to support customers at every stage of the project life cycle, giving them full project visibility, control, accountability and certainty.”
With the addition of TeamBinder, Macholtz said the offering complements InEight’s existing portfolio of solutions, which span projects from design to estimate and from field execution to turnover.
“Document management is a rapidly growing market opportunity around the world,” InEight COO, Dan Hicks, added. “The TeamBinder team built a best-in-class solution that specifically meets these market needs.
“By integrating those capabilities with InEight’s unrivalled ability to provide customers with project efficiencies and visibility to project controls, field operations and collaborative BIM, we will provide a solution unlike anything else in the market.”
From a geographical perspective, the acquisition also offers InEight opportunity for global expansion, especially in Asia Pacific.
On the flip side, InEight’s already strong international network will offer a "clear path" for growth for the TeamBinder solution, especially in North America.
“During the last three decades, InEight has transformed the industry, and it is the perfect fit to take TeamBinder to the next level,” QA Software CEO, Russell Mortimer, added.
“Both of our teams and products are rooted in decades of engineering and construction project experience, creating a deep understanding of customer needs.
“I know that by delivering our products as a complete project life cycle solution, InEight is paving the way for new possibilities for software solutions in construction and will accelerate the innovation of document management solutions.”
The acquisition is expected to close within 30 days.