Hilti Group has entered into an agreement to acquire Fieldwire, a San Francisco-based construction technology company for an approximate $300 million.
The strategic acquisition will bring together Fieldwire’s product and Hilti’s global brand and market reach.
Fieldwire provides a platform for job site management that powers more than a million job sites worldwide. Founded in 2013, Fieldwire has built a presence in North America and managed to expand internationally into Europe and Asia Pacific, while building market-specific features that enable customers to improve field productivity.
The company is presently supporting thousands of clients to better manage their job sites digitally by offering a software solution that is reliable, easy to use, has a wide range of features, and is also device-agnostic, the Hilti news release says. It is used by general and specialty contractors.
“The acquisition of Fieldwire will accelerate Hilti’s capability to deliver productivity to our customers through software solutions," said Christoph Loos, CEO of the Hilti Group. "Since digitalization has become a major driver of productivity in construction, Hilti has been investing in digital solutions for construction professionals. This acquisition will strengthen our software portfolio and is a logical step towards our vision of becoming the leading digitalization partner for our customers. We intend to continue investing in the platform to create the next market leader in construction project management software.”
With Hilti’s support, the team at Fieldwire will expedite the work on building the preferred digital solution for construction professionals in the market. Not only will all current Fieldwire team members be invited to stay with Hilti Fieldwire under the continued leadership of the two founders, Yves Frinault and Javed Singha, but additional efforts will also be made to significantly grow the team.
Source: Hilti Group