ENGINEERING TECH

Buildertrend, the Leader in Construction Management Software, Secures Significant Investment Led by Bain Capital Tech Opportunities

Buildertrend | December 29, 2020

Buildertrend, the main supplier of cloud-based programming for homebuilders, remodelers and forte temporary workers, today reported that it has gotten a venture from Bain Capital Tech Opportunities and HGGC to quicken its development and grow the administrations it gives to clients. This first institutional venture will quicken Buildertrend's development direction through essential acquisitions and drive venture into neighboring contributions, for example, installments, information investigation and temporary worker administrations. Monetary terms of the private exchange were not revealed.

Established in 2006 by Steve Dugger, Jeff Dugger and Dan Houghton, and situated in Omaha, Buildertrend is the main cloud-based development the board stage for private homebuilding, giving hearty and present day development the executives devices to more than 16,000 homebuilding, redesigning and claim to fame development organizations, their sub-contractual workers and their customers. Development groups depend on Buildertrend to maintain their organizations by normalizing planning and work processes, dealing with installments, buy and change arranges, and improving client correspondence and perceivability.

"We established Buildertrend with a dream to upset the development business and make the confounded homebuilding and forte development measure more straightforward and effective," said Dan Houghton, Co-Founder and Co-CEO of Buildertrend. "Bringing top notch cloud-based applications to the business has situated our foundation to be a reasonable differentiator. It was a considerable choice to welcome on an accomplice unexpectedly, and we are eager to cooperate with Bain Capital and HGGC and to use their worldwide organizations and ability scaling vertical programming organizations. This association will empower us to convey considerably more incentive to our clients across the world."

Spotlight

The commercial drone industry is booming. By 2022, International Data Corporation predicts that the number of U.S. commercial drones will hit 5.7 million by 2022 up from 1.8 million in 2018. As the industry matures, how we identify and track the rapidly-growing numbers of commercial drones in the sky is quickly becoming the most important problem to solve to encourage this growth.

Spotlight

The commercial drone industry is booming. By 2022, International Data Corporation predicts that the number of U.S. commercial drones will hit 5.7 million by 2022 up from 1.8 million in 2018. As the industry matures, how we identify and track the rapidly-growing numbers of commercial drones in the sky is quickly becoming the most important problem to solve to encourage this growth.

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ENGINEERING TECH

Altair to Acquire RapidMiner, Continuing Expansion of Broad Data Analytics Portfolio

Altair | September 14, 2022

Altair ( Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), signed a definitive agreement to acquire RapidMiner, a leader in advanced data analytics and machine learning (ML) software. RapidMiner's low-code platform is used by more than one million people of all skill levels to develop production-scale data pipelines and ML models, putting advanced data analytics into the hands of those who know the domain problems best. It provides hundreds of powerful, drag-and-drop building blocks to transform and augment data – greatly accelerating work for coders and non-coders alike – and its flexible delivery models provide users and enterprises with the scale they need, from a user's desktop to on-premises servers to secure, multi-tenant cloud. "This acquisition significantly strengthens Altair's end-to-end data analytics (DA) portfolio, which already offers customers the power to understand, transform, act on, and automate their data, Machine learning is becoming an essential part of business, but often the barriers to building ML models are too high to get started. Too much data, not enough data science expertise, and insecure or unscalable production environments can all keep a business from executing on their data analytics vision. That's where RapidMiner can be transformative." -James R. Scapa, founder and chief executive officer, Altair. RapidMiner's cloud platform takes the best of RapidMiner desktop and adds the strength of the cloud, bringing additional scale and governance to the low-code platform. This multi-tenant, SaaS-ready version enables organizations to ramp up their data science workloads easily and safely. RapidMiner resonates with users in the data analytics community due to its talented, hands-on technical team with decades of experience, led by founder and chief technology officer Dr. Ingo Mierswa, who will join Altair. Under Mierswa's leadership, RapidMiner pioneered the entire concept of visual, explainable data science, and was the first platform to introduce automatic data science, text analytics, automated feature engineering, deep learning, and more. "Altair and RapidMiner share the same vision to make data analytics simple enough for all users, but scalable, governed, and safe enough for all enterprises, We see this as an incredibly exciting opportunity to watch our solutions grow across the globe and expand into a larger, more powerful ecosystem." -Dr. Ingo Mierswa,founder and chief technology officerRapidMiner. RapidMiner reinforces Altair's DA market position in several verticals – especially manufacturing and financial services – through industry expertise and industry-specific ML techniques and data source connections. Sitting next to dozens of existing Altair products already in these verticals, RapidMiner presents an exciting new offering for new and existing customers who will be able to access existing Altair and RapidMiner products easily through Altair's unique units licensing model. RapidMiner will be integrated with existing tools, such as Altair Knowledge Studio, Altair SmartWorks, and Altair SLC, to provide a comprehensive, code-optional, multi-language, SaaS-ready, cloud-scale platform for enterprise data analytics and data science. About Altair: Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future.

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DESIGN,ENGINEERING TECH

Timken to Acquire GGB Bearing Technology, Expanding Its Engineered Bearing Portfolio with Complementary Products

The Timken Company | September 07, 2022

The Timken Company, a global leader in engineered bearings and industrial motion products, has reached an agreement to acquire GGB Bearing Technology (GGB), a division of Enpro, Industries (including exclusive negotiations with respect to the French operations of GGB). Founded in 1899, GGB serves a variety of diverse customers, markets, geographies and applications with a product portfolio that complements existing Timken industry-leading engineered bearing solutions. GGB revenue is expected to be around $200 million in fiscal year 2022. "GGB has a strong heritage of delivering high-performance products to well-established customers who are leaders in their respective industries, This acquisition provides strong synergies and meaningfully expands our business by adding complementary products with a solid growth outlook. GGB's leading portfolio of metal-polymer bearings will further Timken's ability to deliver the best solution to our customers' most challenging friction management applications. GGB also presents an excellent cultural fit for Timken, including a commitment to corporate social responsibility with a portfolio of environmentally sustainable solutions." -Richard G. Kyle, Timken president and chief executive officer. GGB is a global technology and market leader of premium engineered metal-polymer plain bearings with expertise in material science, surface engineering and tribology. With manufacturing facilities across the United States, Europe and China, GGB employs approximately 900 people and has a global engineering, distribution and sales footprint. The company's tribology solutions in plain bearing coatings complements Timken's leading positions in roller and ball bearings. GGB's products are used mainly in industrial applications, including pumps and compressors, HVAC, off-highway, energy, material handling and aerospace. Timken will fund the transaction with cash on hand and its existing revolving credit facility. The deal is subject to customary closing conditions and is expected to close in the fourth quarter of this year. Timken anticipates the acquisition will be accretive to earnings in the first full quarter after closing. About The Timken Company: The Timken Company designs a growing portfolio of engineered bearings and industrial motion products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 43 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.

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ROBOTICS AND AUTOMATION,CONSTRUCTION

Trimble Ventures Invests in Civ Robotics--A Construction Tech Startup Focused on Autonomous Surveying Solutions

Trimble | September 22, 2022

Trimble Ventures, Trimble's (NASDAQ: TRMB) corporate venture capital fund, announced today its investment in Civ Robotics, a San Francisco-based construction tech startup focusing on transforming surveying layout for civil engineering and infrastructure projects. This investment supports Trimble Ventures' mission to invest in early and growth-stage companies that are accelerating innovation, digital transformation and sustainability in the industries Trimble serves—such as agriculture, construction, geospatial and transportation. The investment terms were not disclosed. The construction industry faces a variety of challenges including shortage of skilled workers, safety and productivity. Civ Robotics addresses these challenges with CivDot, a new autonomous surveying solution that empowers efficiency, productivity and safety on the job. CivDot is an unmanned ground vehicle (UGV) designed for civil engineering and infrastructure projects such as solar farms, roadways, data centers, power plants and more. Augmenting the surveyors work, CivDot marks thousands of coordinates per day precisely and efficiently, while delivering layouts faster than traditional methods. "We are focused on investing in companies that are seeking to address important challenges in markets that align with Trimble's mission of transforming the way the world works. Civ Robotics technology supports surveyors and field workers and helps remove the burden of repetitive and risky work, Civ Robotics uses Trimble's high-precision GNSS positioning technology and surveying software to improve productivity and increase safety. This is an exciting opportunity to help accelerate innovation in autonomy, surveying and construction." -Aviad Almagor, vice president, technology innovation at Trimble and technology advisor for Trimble Ventures. Trimble and our vision are in lockstep towards construction automation with a sharp focus on the highest standards of safety and quality, said Tom Yeshurun, co-founder and CEO, Civ Robotics, which announced its $5 million seed funding round this morning. Through Trimble's latest GNSS technology in our autonomous surveying products, our customers can benefit from an end-to-end workflow. About Civ Robotics: Civ Robotics is an autonomous surveying solution for civil engineering and infrastructure projects. The company's flagship product, CivDot, is an unmanned ground vehicle (UGV) which marks thousands of coordinates per day precisely and efficiently for large construction projects, while empowering workforces faced with labor shortages and subsequent delays. Through the press of a button and in a fraction of the time, Civ Robotics autonomous systems are revolutionizing projects, including solar farms, roadways, data centers, power plants, industrial development and large infrastructure. About Trimble Ventures: Launched in 2021, Trimble Ventures is a corporate venture capital fund focused on investing in early and growth-stage companies that align with Trimble's mission of transforming work in the agriculture, construction, geospatial and transportation industries. The fund deploys strategic capital to accelerate the growth of innovative companies and partners that complement Trimble's products, technology platforms and support its customer's work. Trimble Ventures targets investing in companies with technologies and solutions related to hardware and software applications; artificial intelligence; augmented, virtual and mixed reality; autonomy and robotics; blockchain; the Internet of Things (IoT) and analytics; and sustainability. About Trimble: Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation.

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