Did you think the week was going to go by without any acquisitions? Nemetschek squeezed this one in, just before the start of the weekend.
The company just announced that it will acquire Bluebeam Software, maker of Bluebeam Revu and other AEC-focused PDF creation, markup and editing tools. If you’re not familiar with Bluebeam, you’re not in AEC. Revu converts CAD drawings into dynamic PDFs with the goal of eventually doing away with paper; for example, it links photographs to specific locations on a marked-up PDF to make thing like punch lists easier to create and use.
Nemetschek says that Bluebeam has 650,000 users worldwide, and recorded revenue of about $22 million in fiscal 2013, “which corresponds to a 48% growth over the previous year. In the first half of 2014, Bluebeam continued on an accelerated growth path and generated revenues amounting to US $16.5 million”. That, plus a profitable operating result for the first half of fiscal 2014, led Nemetschek to pay $100 million in the deal.
Nemetschek is using its own cash plus taking out a loan to finance the deal. The acquisition is expected to be close in October 2014.
What does Nemetschek get out of this? Cool tech to sell to its current Design (Allplan, Graphisoft and Vectorworks) customers and an established presence in US. Bluebeam should benefit from Nemetschek’s strong European network and a growing Asian team.
Nemetschek says Bluebeam will continue to be led by its current management as an independent brand.