A US-based construction project management software developer is acquiring Melbourne-based document management software vendor QA Software for an undisclosed sum.
Arizona-based InEight’s acquisition will include QA’s flagship document management and collaboration application, TeamBinder, and will combine with InEight’s project management solutions to create a key product for project stakeholders such as contractors, owners and engineers.
QA Software was founded in 1995 and boasts a number of recognisable clients including Alcoa, Laing O’Rourke, Transport NSW, Brookfield Multiplex and others in Australia as well as overseas.
InEight is a wholly-owned subsidiary of Kiewit, an $11.8 billion privately held construction and engineering company founded in 1884. InEight operates in more than 30 countries and was first introduced to Australia and New Zealand in 2016.
The acquisition is set to advance InEight’s presence in Australia, as well as taking TeamBinder to a worldwide client network. The newly acquired software will form part of an integrated solutions approach.
QA Software chief executive Russell Mortimer said: “Both of our teams and products are rooted in decades of engineering and construction project experience, creating a deep understanding of customer needs.
“I know that by delivering our products as a complete project lifecycle solution, InEight is paving the way for new possibilities for software solutions in construction and will accelerate the innovation of document management solutions.”
QA Solutions also develops a number of other software products, which will not be sold to InEight, and instead will be retained by Mortimer under QDMS Solutions.
“We founded InEight on a vision of developing innovative, proven software solutions that help all capital project stakeholders consistently deliver predictable project outcomes,” InEight chief executive Jake Macholtz said.
“Today, we reached a significant milestone in achieving this vision with the acquisition of QA Software and its flagship product, TeamBinder. This acquisition reinforces our unique ability to support customers at every stage of the project lifecycle, giving them full project visibility, control, accountability and certainty.”
The acquisition is expected to close within 30 days.