iSqFt and CMD to Merge
Bid information and SaaS (software-as-a-service) provider iSqFt, http://www.isqft.com/, Cincinnati, Ohio, and provider of construction information in North America CMD Group, http://www.cmdgroup.com/, Norcross, Ga., announced that the companies have merged.
The combination is seen as bringing together businesses with complementary strengths in different segments of the construction sector.
Dave Conway, president and CEO, iSqFt, will serve as the CEO of the combined company to be headquartered in Cincinnati.
CMD is owned by global private equity firm Warburg Pincus, http://www.warburgpincus.com/, New York, N.Y. and Reed Business Information, http://www.reedbusiness.com/, Sutton, Surrey, United Kingdom. Alex Berzofsky, managing director, Warburg Pincus, will continue to be a shareholder in the combined company.
As a SaaS company, iSqFt serves the commercial construction industry by offering its customers access to a network that connects hundreds of thousands of general contractors, subcontractors, manufacturers, and suppliers.
Concludes CMD CEO Graeme McCracken, “iSqFt and CMD share highly complementary capabilities which, brought together, will build on our firms’ reputations for outstanding customer service and will create exciting opportunities for our employees.”
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