Mergers and acquisitions, otherwise known as M&As are one of the most exciting types of announcements in any industry. It means companies are on the move; they’re growing, expanding, and strategically placing themselves in a way that will maximize their potential in a particular marketplace.
In the construction technology space, M&As (mergers and acquisitions) are a sign the industry is alive and well.
One of the last M&A announcements of 2014 helps cap off a year of market-wide activity while also setting the tone for the marketplace in 2015. Viewpoint Construction Software, www.viewpoint.com, Portland, Ore., is one company that is continually gaining a bigger stake in the construction segment through acquisitions. Viewpoint provides construction-specific software solutions and services that help construction professionals improve profitability, visibility, and collaboration within a project while also managing risk.
The company’s most recent acquisition involves MCS (Mobile Computing Systems), www.mobilecomputing.uk.net, Swansea, U.K., a provider of construction-project defect management, plans, and mobile forms for use within live construction project environments. Through the agreement, Viewpoint will benefit from MCS’ software, Priority1, which the company says offers a flexible framework that can be used to re-engineer paper-based processes while also managing day-to-day operations.
Priority1—which will be renamed “Viewpoint Field View” and sold as an application within certain product suites—helps automate and streamline tasks including defect management, snagging/punch lists, quality control, auditing, compliance, and health and safety by leveraging mobile devices such as tablets. Viewpoint says the acquisition will further extend mobile capabilities throughout its product portfolio.
Throughout the past several years, Viewpoint has made acquisitions a key component of its growth strategy in the construction space. In addition to creating a customer-centric culture and investing in its products, facilities, and infrastructure, strategic acquisitions have been key to bringing important software extensions to the company’s products.
Additionally, acquisitions often have the benefit of bringing a fresh group of knowledgeable professionals into the new parent organization. By working together, M&A participants can often extend their reach into new geographic areas or ancillary markets, enhance their offerings thanks to additional resources, and improve their position in a space thanks to acquired knowledge bases and experience.
As we head into the New Year, companies like Viewpoint are aiming for the top. While no one knows for sure what’s in store for construction in 2015, M&As and increased investment in construction-specific technologies will most likely continue to play an important role in shaping the industry.
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