Quickie: Trimble acquires Viewpoint for $1.2 billion
Just into my inbox: Trimble, makers of all sorts of software and hardware targeted at the broader AEC market is acquiring Viewpoint, which makes construction management software. More on this tomorrow, but Viewpoint fits perfectly (with some overlap) into Trimble’s portfolio, matching its design, planning and measurement technologies with Viewpoint’s contractor financials and resource management solutions.
This is a huge deal, with Trimble paying $1.2 billion to buy Viewpoint from Bain Capital. The PR didn’t give Viewpoint’s 2017 or 2018 revenue, but says that Viewpoint is expected to “contribute approximately $200 million of non-GAAP revenue in 2019 with operating cash flow of greater than $50 million.” The deal will close in Q3, after the usual regulatory approvals. Trimble will pay for the acquisition with cash on hand and new debt.
But that’s not all Trimble has been up to. When this news came, I was researching steel fabricators –the businesses that prefabricate beams and more complex structures– because Trimble just announced that it’s acquired FabSuite a supplier of steel fab management software, a bit like AVEVA’s Fabtrol. Trimble sees FabSuite plus Tekla creating a complete workflow for designing, planning, managing and automating the steel fab to maximize constructability and utilization while minimizing waste. As I learned last year at AVEVA World Conference in Houston, these businesses can be very old-line, and ripe for modernization.