Hilti acquires software company Fieldwire in the USA
17 November 2021
The tool manufacturer Hilti is acquiring the American software company Fieldwire for 300 million US dollars. With this strategic acquisition of a construction technology company, Hilti is entering into the digital construction management business.
Hilti, a corporate group based in Schaan in Liechtenstein, is acquiring the American technology company Fieldwire for 300 million US dollars. Both companies have come to an agreement on this according to a press release. The aim of the acquisition is to develop a leading digital construction management platform. Since it was founded in 2013, Fieldwire has offered a platform that is now used by more than one million construction sites.
Christoph Loos, CEO of the Hilti Group, is quoted in the press release, commenting: “This acquisition expands our software portfolio and is the next logical step towards our vision of becoming the leading digitization partner for our clients.” Hilti plans to invest further in the platform in order to become the market leader in the field of construction project management software.
This is said to include taking on all staff at Fieldwire and additionally hiring more. The two Co-Founders, Yves Frinault and Javed Singha, will also continue to lead the company.
The tool manufacturer had already invested in the American startup in 2017 within a financing round and has accompanied Fieldwire’s development since then. This means that there is already a close partnership.
Yves Frinault, Co-Founder and CEO of Fieldwire, is quoted in the press release, saying: “With Hilti we have found a partner that shares our values and simultaneously enables us to expedite our product development for our clients in our existing and new markets. We are delighted to become part of the Hilti Group.” The acquisition is scheduled to be completed by the fourth quarter of this year.