The Sword Group – parent of CTSpace, the construction collaboration technology provider that used to be known as BuildOnline and Citadon (see various posts) – has announced (see release) its acquisition (no transaction value given) of US-based ViaNovus and its Paragon suite of construction management products.
Another version of the release adds ViaNovus will be operated as a unit of CTSpace. It continues:
PARAGON Program Management System(TM) is the premier owner focused cost management solution for construction and engineering programs available as Software as a Service (SaaS). The PARAGON solution complements the SWORD’s CTSpace SaaS collaboration and business process management solution. In fact, the two products have already been installed for a common client. Customers of other SWORD products including project document control will no doubt also be excited by the addition of this leading cost management capability to the SWORD portfolio of products.
CTSpace Director, Howard Koenig, stated, “We are pleased to satisfy our clients and prospects requests for an integrated cost management solution. This will accelerate our market growth and adoption of CTSpace.”
I have argued for a couple of years now that document collaboration has become an increasingly commoditised market which offers little scope for differentiation even in the highly specialised architecture, engineering and construction (AEC) market. CTSpace UK rival, BIW Technologies [my employer] has already expanded its portfolio of services to cover additional functions such as project cost control and contract administration, so CTSpace appears to be pursuing a similar strategy, albeit by acquisition rather than internal development of new functionality.