InEight acquires QA Software and TeamBinder document management solution
InEight, a developer of construction project management software, today announced that it will acquire QA Software. This includes QA Software's flagship product, TeamBinder, the comprehensive document management and collaboration solution for the engineering and construction industry. The acquisition combines InEight's project management solutions with QA Software's comprehensive document management tools, creating world-class solutions for key project stakeholders including contractors, owners and engineers.
"We founded InEight on a vision of developing innovative, proven software solutions that help all capital project stakeholders consistently deliver predictable project outcomes," said Jake Macholtz, chief executive officer at InEight. "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."
With the addition of TeamBinder, InEight will be able to provide customers with a clear path to solve for their ever-present collaboration and document management needs across all projects. This complements InEight's existing portfolio of solutions, which span projects from design to estimate and from field execution to turnover.
"Document management is a rapidly growing market opportunity around the world," said Dan Hicks, chief operating officer at InEight. "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 acquisition provides significant opportunity for global expansion for InEight, especially in Asia Pacific. InEight will enhance its global operations and commitment to providing outstanding customer support, with the addition of offices in Melbourne, Australia; and Colombo, Sri Lanka. Additionally, InEight's already strong international network will offer a clear path for growth for the TeamBinder solution, especially in North America.
"During the last three decades, InEight has transformed the industry, and it is the perfect fit to take TeamBinder to the next level," said Russell Mortimer, chief executive officer at QA Software. "Both of our teams and products are rooted in decades of engineering and construction project experience, creating a deep understanding of customer needs. I know that by delivering our products as a complete project life cycle solution, InEight is paving the way for new possibilities for software solutions in construction and will accelerate the innovation of document management solutions."
With InEight, TeamBinder will be part of an integrated solutions approach, providing more opportunity to bring existing products to market and help customers manage not just the challenges of document management, but the complete project life cycle.
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