Expansion in Europe helped Germany’s think project! grow its 2016 revenues by around 17%, and its CEO plans to accelerate international growth.
think project!, the Munich, Germany-based provider of Software-as-a-Service collaboration and information management software to the construction and engineering industries, recorded a 35% increase in sales in the year to 31 December 2016. It says it grew revenues to almost €30m (c. £25.6m or US$31.6m), compared to 2015‘s €25.4m – so somewhere around 17% revenue growth.
According to the company, revenues developed positively across all target segments (public and private asset owners, general contractors, project managers), while highlights included the February 2017 investment from private equity firm TA Associates, and the successful roll-out of solutions for BIM Collaboration. Last year, think project! also, in June 2016, acquired a majority stake in Austria’s think project! distributor, founded a joint venture with ProjectCenter in Spain (September), acquired German competitor Conetics (October), and established a new R&D location in Poland.
Following its roll-out of BIM Collaboration solutions, think project! says more than 60 projects have already mapped collaboration processes for more than 7,500 models within think project!. CEO Thomas Bachmaier said:
“We are very pleased with the business development of think project! in 2016. With our new partnership with TA Associates, we will accelerate our international growth and strengthen our position as the ‘partner for digital transformation’ by further focusing the developments of BIM solutions within think project!.”