Another Melbourne, Australia-based construction software business has been acquired by an American corporation. Less than a week after the final formalities of Oracle’s purchase of Aconex, QA Software , developer of Teambinder, has been snapped up (for an unspecified amount) by Scottsdale, Arizona-based US construction project management provider InEight (read new release).
InEight (a subsidiary of the US Kiewit contracting group) will add QA’s mature flagship document management and collaboration solution, TeamBinder (first launched in 2000 – see TeamBinder builds well-integrated SaaS solution, July 2013), to its own project management solutions. Teambinder predated Aconex as an Australia-developed collaboration platform but never really challenged its Melbourne rival; Aconex still dominates its domestic market despite recent incursions by Procore and others.
TeamBinder acquisition rationale
InEight CEO Jake Macholtz says TeamBinder will be a major weapon in its arsenal:
“We founded InEight on a vision of developing innovative, proven software solutions that help all capital project stakeholders consistently deliver predictable project outcomes,. Today, we reached a significant milestone in achieving this vision with the acquisition of QA Software and its flagship product – TeamBinder. This acquisition reinforces our unique ability to support customers at every stage of the project life cycle, giving them full project visibility, control, accountability and certainty.”
InEight’s COO Dan Hicks said:
“Document management is a rapidly growing market opportunity around the world. The TeamBinder team built a best-in-class solution that specifically meets these market needs. By integrating those capabilities with InEight’s unrivaled ability to provide customers with project efficiencies and visibility to project controls, field operations and collaborative BIM, we will provide a solution unlike anything else in the market.”
The deal will help InEight expand in the Asia Pacific region, while growing TeamBinder’s reach, especially in North America; Teambinder also has links to London’s Createmaster (October 2016 post). TeamBinder is the only product InEight is buying from QA, with the rest of its product lines continuing to operate under the umbrella of QDMS Solutions and its CEO Russell Mortimer.
