Projectmates Acquired by Hexagon
The acquisition accelerates Projectmates’ growth into international markets and amplifies Hexagon’s commitment to breakthrough construction technology products.
Projectmates is a SaaS-based, owner-focused, enterprise construction project management software provider.
The company's configurable and centralized platform enables owners to keep all working documents and projects within a construction program up to date and in one place – from the planning stages through closeout and handover to the facilities management team.
Hexagon AB is a global leader in digital reality solutions combining sensor, software and autonomous technologies.
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PRESS RELEASE OVERVIEW
SEG Client, Projectmates, Acquired by Hexagon
Jan. 12, 2023 – Hexagon AB, a global leader in digital reality solutions combining sensor, software and autonomous technologies, today announced the acquisition of Projectmates, a SaaS-based, owner-focused, enterprise construction project management software provider.
Since 1997, Projectmates has been delivering a best-in-class solution designed specifically with an owner’s needs in mind: delivering positive ROI from every construction dollar spent. Projectmates’ configurable and centralised platform enables owners to keep all working documents and projects within a construction program up to date and in one place – from the planning stages through closeout and handover to the facilities management team.
Linking owners with job sites in real-time and tracking critical information about design changes, job site progress and expectations provides owners with the necessary visibility to make sure projects are executed, monitored, controlled and closed on time and within budget. With powerful reporting and a single view of an entire project portfolio – from capital planning and budget allocation to bidding, contracts, change orders, invoicing and payment – owners can streamline communications and collaboration with architects, engineers and contractors to improve response times, workflows and ROI.
“The solutions that general contractors leverage to help mitigate budget overruns and schedule delays during an asset’s construction are often too limited to manage an entire construction program over multiple projects – from concept to closeout – and don’t provide the relevant information required by the asset owner,” says Hexagon President and CEO Paolo Guglielmini. “Purpose-built for owners, Projectmates’ next-generation SaaS technology transforms how projects are visualised and managed. Through intelligent tracking of project schedules, costs and values, owners of any construction project – from industrial and commercial assets to infrastructure – can avoid delays and save money.”
“Projectmates’ solution nicely complements our existing comprehensive construction portfolio (HxGN Smart Build) used by general contractors and leading EPCs, which includes enterprise planning and project controls software and reality capture solutions that monitor job site safety and evidence job site progress,” continued Guglielmini. “With Hexagon’s established global channels and engaged customer base, Projectmates will be able to expand its industry-leading solution to asset owners around the world.”
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.
Software Equity Group (SEG) served as the exclusive advisor to Projectmates.