Quickie: Hexagon acquires EcoSys for AEC project control
I’m at the Siemens PLM analyst conference in Boston this week, but need to let you know that Hexagon is acquiring EcoSys to further its strategy of addressing broader AEC project challenges. EcoSys helps customers capture and manage project information related to time and cost, leading to best practices that can run across projects. More about this sometime soon — it’s a crucial business practice that many EPCs are trying to improve.
EcoSys becomes part of Intergraph PP&M, and will (it sounds) continue to bring its EcoSys EPC (Enterprise Planning & Controls) to market. The details of the acquisition weren’t released, but Hexagon says that EcoSys had revenue of $29 million in 2014.
If you recall, Aconex acquired Worksite in July. Worksite and EcoSys EPC are both SaaS solutions that aim to help EPCs make their project cost management more consistent within and across projects and move away from Excel to commercial solutions. The commercial offerings are often part of ERP but those tend to be transaction-based and not well suited to the shifting nature of AEC project. As this tide continues to roll, look for more of this sort of consolidation. Getting into the business side of AEC projects (including oil & gas) is a next logical step for the design tool providers as they look to up their strategic importance with buyers and bring stability to smaller, perhaps more vulnerable solution providers. AVEVA started it all when it snapped up 8over8; I don’t see the trend slowing any time soon.
UPDATE: Intergraph has published an FAQ about the acquisition, available here. Main points: Business as usual. To start, EcoSys will operate as a separate business unit with its current senior management. Over time, the company will be integrated into Intergraph PP&M. Eventually, EcoSys products will be integrated into the Smart portfolio. Perhaps most important, Intergraph says EcoSys will continue to execute on its current product roadmap and will support industries outside the PP&M core.