Hilti buys software company Fieldwire in the USA
The tool manufacturer Hilti buys the American software manufacturer Fieldwire for 300 million dollars. With the strategic takeover of the construction technology company in San Francisco, Hilti enters the digital business for construction site management.
The Schaaner group of companies Hilti is taking over the American tech company Fieldwire for 300 million dollars. Both companies have reached an agreement on this, according to a media release . The aim of the acquisition is to develop a leading digital platform for construction site management. Fieldwire has offered a platform since the company was founded in 2013, which is now used on more than 1 million construction sites.
“This acquisition expands our software portfolio and is the next logical step in the direction of our vision of becoming the leading digitization partner for our customers,” said Christoph Loos, CEO of the Hilti Group, in the press release. Hilti wants to continue investing in the platform in order to become the market leader in the field of construction project management software.
This also includes taking on all Fieldwire employees and hiring new ones. The two company founders, Yves Frinault and Javed Singha, will also continue to run the company.
The tool manufacturer had already invested in the American start-up in 2017 as part of a financing round and has supported the development of Fieldwire since then. A close partnership already exists.
“In Hilti we have found a partner who shares our values and at the same time enables us to accelerate our product development for our customers in our existing and new markets. We are very pleased to become part of the Hilti Group, ”said Yves Frinault, CEO of Fieldwire, in the press release. The acquisition is expected to close in the fourth quarter of this year.