By Chad Hollingsworth (*)
With moving vehicles and equipment, tools, and heavy materials on site at any point in time, ensuring projects are completed safely and efficiently can be a daunting task. And as construction activity picks up, and the workforce becomes more diverse, knowing which resources are on site, generally where they’re located and being able to communicate with them from anywhere on site is only growing in importance. According to the Bureau of Labor Statistics, more than one-quarter of all construction workers are Hispanic or of Latino ethnicity. In an inherently hazardous environment where communication is paramount, language barriers can present a significant challenge.
Procore.org is working to empower the construction industry and the communities it serves, and one way they aim to achieve this is through supporting non-profit organizations that are helping to build and rebuild within local communities. As Construction Safety Week approaches (May 7-11), Procore is excited to announce their partnership with National Hispanic Entrepreneurs’ Organization (NHEO) Institute, a United States non-profit focused on the construction and engineering industry.
SUNNYVALE, Calif., April 23, 2018 -- Trimble (NASDAQ: TRMB) announced today it has entered into a definitive agreement to acquire privately-held Viewpoint from Bain Capital in an all-cash transaction valued at $1.2 billion. Viewpoint is highly complementary to Trimble's e-Builder business, and will extend Trimble's ability to provide more complete and integrated project, jobsite and business workflows across the construction lifecycle.
Viewpoint is a leading provider of scalable construction management software, which integrates a contractor's financial and resource management to their project operations and to their jobsite and field. The integration across the office, team and field enables contractors to employ Viewpoint to effectively manage and have visibility to data and workflows that span the construction lifecycle from pre-production planning, to product operations and supply chain management, and then to project hand over and asset operation and maintenance. The Company's suite of purpose-built SaaS, client-server and mobile solutions improve project performance, provide increased visibility and deliver integrated workflow data to the entire team consisting of general contractors, project managers, architects, engineers and subcontractors. By blending office and field data workflows across a project, Viewpoint customers are able to achieve significantly improved collaboration, efficiency and decision making, while lowering costs.
Currently managing over $400 billion of construction project value, Viewpoint has approximately 8,000 customers worldwide, including many from the Engineering News-Record (ENR) 400 and 600 top tier construction firms. These firms include general contractors, heavy highway and civil contractors, specialty subcontractors and owners.
The acquisition will round out Trimble's comprehensive construction technology portfolio and position Trimble to further its strategy to lead the industry's transformation. With Viewpoint, Trimble will be able to offer customers a central workflow platform for delivering integrated, end-to-end construction management, while further enabling connectivity across the complete construction lifecycle. In addition, Viewpoint will complement Trimble's recent acquisition of e-Builder, a leading SaaS-based construction program management solution for capital program owners and program management firms. Viewpoint will further extend these capabilities with focus on general, specialty and heavy civil contractors, and link project data into the owner-facing e-Builder suite for end-to-end project transparency.
"The Viewpoint acquisition, in combination with the recent e-Builder acquisition, confirms Trimble leadership in the accelerating digital transformation of the construction industry," said Steven W. Berglund, president and CEO of Trimble. "The acquisitions are strategically significant and position us to play a unique and central market role in providing comprehensive enterprise and project solutions. They also provide significant financial opportunity and contribute strong growth trajectories. The current trajectories can be further enhanced by a large addressable market enabled by the combined capabilities of the three companies."
"The construction industry is embarking on a major digital transformation, and together with Trimble we will further accelerate technology innovation and adoption to deliver even more value to our customers," said Manolis Kotzabasakis, CEO of Viewpoint. "This partnership is a perfect fit, as Trimble and Viewpoint share a common vision helping construction companies integrate operations across the office, team and field, improving project profitability, enhancing productivity, and effectively collaborating across the construction ecosystem."
"We are pleased to have had the opportunity to work with the Viewpoint team to grow the business and to extend their leadership position globally, and we are confident Trimble will be a good home for Viewpoint and its employees and customers," said David Humphrey, a managing director at Bain Capital Private Equity. "Software demand continues to surge across all industry verticals, and Viewpoint has accelerated technology adoption in the construction industry through the development and launch of a suite of new cloud and mobile applications," added Darren Abrahamson, a managing director at Bain Capital Private Equity.
Compelling Strategic and Financial Rationale
The transaction, which is expected to be completed in the third quarter of 2018, is subject to regulatory approvals, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, as well as other customary closing conditions.
With progressive goals and intentional planning, telematics can do so much more than find machines and make sure they’re fueled up.
It’s important to approach equipment telematics thinking strategically, prepared to embrace innovations that employ GPS machine-monitoring data well beyond the shop. Telematics technology has made tremendous progress. Not only can it now inform equipment replacement decisions to improve fleet cost efficiency, but the data has the potential to revolutionize the way construction companies manage production.
Drones or Unmanned Aerial Vehicles (UAVs) in construction are gaining in popularity, but not everyone is aware of how impactful they can be. Drones are now able to serve a variety of purposes, ranging from data capture, film creation and security. UAVs have also proven to be a cost-effective alternative in construction industry. This article discusses 6 areas of construction that are not only benefiting from UAVs, but providing a cheaper alternative to traditional methods.
New brand represents $5 billion in investments and dedicates 3,500 employees with 20 years of telematics, mobile workforce and fleet management expertise
Verizon launched Verizon Connect, the completed integration of its existing connected vehicle division, Verizon Telematics, with recently acquired fleet and mobile-workforce management software companies, Fleetmatics and Telogis, under a single, combined brand. The new brand is the culmination of more than $5 billion in investments, and puts 3,500 dedicated employees in 15 countries with nearly 20 years of telematics, mobile workforce and fleet management expertise behind what Verizon calls “a one-stop approach to connected vehicle software solutions and services that help drive safety, productivity and efficiency.”
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