Hexagon strengthens its construction software offering for asset owners with the acquisition of Projectmates
12 January 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.
For further information, please contact:
Anton Heikenström, Investor Relations and Business Analyst, Hexagon AB, +46 8 601 26 26, firstname.lastname@example.org
Kristin Christensen, Chief Marketing Officer, Hexagon AB, +1 404 554 0972, email@example.com
Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.
Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 23,000 employees in 50 countries and net sales of approximately 4.3bn EUR. Learn more at hexagon.com and follow us @HexagonAB.