Hexagon AB has purchased the project management software company Projectmates.
Hexagon AB combines sensors, software and digital reality technology to create software that can track vehicles, help execute precision agriculture, map construction jobsites and more. Projectmates is a construction project management software program that allows companies to manage construction projects from start to finish. Some of the core features of Projectmates include document and photo management, change management, cost tracking, bid management, fund management and more. Because our solution is web-based, there is no need for software installations and updates.
According to the company, Projectmates links owners with jobsites in real-time and tracks information about design changes, jobsite progress and expectations, which provides owners with the necessary visibility to make sure projects are executed, monitored, controlled and closed on time and within budget. With reporting and a single view of an entire project portfolio – from capital planning and budget allocation to bidding, contracts, change orders, invoicing and payment – owners can streamline communications and collaboration with architects, engineers and contractors to improve response times, workflows and ROI.
"The solutions that general contractors leverage to help mitigate budget overruns and schedule delays during an asset's construction are often too limited to manage an entire construction program over multiple projects – from concept to closeout – and don't provide the relevant information required by the asset owner," said Hexagon President and CEO Paolo Guglielmini. "Purpose-built for owners, Projectmates' next-generation SaaS technology transforms how projects are visualised and managed. Through intelligent tracking of project schedules, costs and values, owners of any construction project – from industrial and commercial assets to infrastructure – can avoid delays and save money."
Headquartered in Dallas, Texas and serving clients and industries with more than 100,000 active projects across North America, Projectmates (Systemates, Inc., doing business as Projectmates), will operate within Hexagon's Geosystems division. According to Hexagon, the acquisition has no significant impact on Hexagon's earnings, with a closing subject to customary regulatory approvals.
