Wood & Panel

Hexagon AB expands with a new merger

 Wednesday, January 18, 2023

Hexagon AB, a pioneer of virtual reality solutions fusing sensor, software, and autonomous technologies, recently announced the merger of Projectmates, a SaaS-based, owner-focused business construction project management software provider. The ability to connect owners with job sites in real-time and track crucial information regarding design modifications, job site development, and expectations gives owners the visibility they need to ensure that projects are performed, monitored, controlled, and completed on schedule and within budget. Owners can improve response times, workflows, and return on investment (ROI) by streamlining communications and collaboration with architects, engineers, and contractors with the help of robust reporting and a single view of the entire project portfolio, from capital planning and budget allocation to bidding, contracts, change orders, invoicing, and payment.

“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,” says Hexagon President and CEO Paolo Guglielmini. “Purpose-built for owners, Projectmates’ next-generation SaaS technology transforms how projects are visualized 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.”

“Projectmates’ solution nicely complements our existing comprehensive construction portfolio (HxGN Smart Build) used by general contractors and leading EPCs, which includes enterprise planning and project controls software and reality capture solutions that monitor job site safety and evidence job site progress,” continued Guglielmini. “With Hexagon’s established global channels and engaged customer base, Projectmates will be able to expand its industry-leading solution to asset owners around the world.”

Projectmates (Systemates, Inc., doing business as Projectmates) will function inside Hexagon’s Geosystems division and serve a diverse range of clients and sectors with over 100,000 ongoing projects across North America. The acquisition has no substantial effect on Hexagon’s earnings, and a completion is anticipated in the next weeks, subject to routine regulatory approvals.

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