This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Textura Announces Acquisition Of LATISTA

CHICAGO, Nov. 14, 2013 /PRNewswire/ --  Textura® Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced today that it has agreed to acquire LATISTA, the leading provider of mobile-enabled solutions for construction project collaboration, for cash consideration of $35 million. The deal is expected to close on or about December 2, 2013. 

(Logo: http://photos.prnewswire.com/prnh/20110602/CG12932LOGO)

"LATISTA propels us to the forefront of the application of mobile technology to the construction industry," said Patrick Allin, Chairman And Chief Executive Officer, Textura Corporation.  "We welcome the LATISTA team to our organization and are excited about the prospects of expanding the breadth of our industry leading platform of solutions, investing in LATISTA's high revenue growth business and leveraging their proprietary, patented technology to develop mobile capabilities for our existing core solutions." 

The construction industry has embraced the adoption of mobile technology; smart phones and tablets are becoming prevalent on job sites everywhere.  According to a recently published survey from Engineering News-Record (ENR), 94% of general contractors with greater than $10 million in annual revenue will adopt tablet usage in the field by 2015 – with 97% of them already having adopted some type of mobile technology. Subcontractors are also adopting mobile at a rapid pace, with 91% of subcontractors expected to adopt mobile technologies by 2015.

"Textura is the ideal partner for LATISTA given our shared vision to transform the construction industry through technology that drives collaboration and productivity, and our complementary business models and cultures," said Chris Ramsey, Chief Executive Officer and Co-founder, LATISTA.  

LATISTA has developed unique expertise around mobile applications in construction.  Their modules handle mission critical construction workflows, including quality management, punch lists, safety, electronic commissioning, and document management, including managing project specific plans and drawings.  Soon-to-come, LATISTA will introduce support for Building Information Models (BIM), right in the field.  

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs