Posted by Brooke Just
The Hilti Group, a construction and tool-making company, has acquired a worksite job management software startup Fieldwire for $300 million.
The strategic acquisition will bring together Fieldwire and Hilti’s market reach to help drive productivity at contractors and on construction sites, according to a Hilti news release.
Fieldwire provides a platform for jobsite management that powers more than a million jobsites worldwide.
Founded in 2013, Fieldwire has built a strong 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's product is geared for general and specialty contractors alike and is known for its field-first approach to productivity.
“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, they said.
“We started Fieldwire to help construction contractors empower their teams, drive field productivity and create stronger, more profitable companies,” said Yves Frinaul, Fieldwire co-founder and CEO. “With Hilti, we have found a partner that truly shares our values and at the same time allows us to speed up our product development for our customers in new and existing markets. We are thrilled to be joining the Hilti Group.”
The acquisition is expected to close in Q4 2021 and is subject to standard closing conditions, including regulatory approvals.
