ENGINEERING TECH
Bentley Systems | February 24, 2023
On February 23, 2023, Bentley Systems, a company specializing in infrastructure engineering software, announced the acquisition of EasyPower, a renowned developer of software tools for electrical engineering professionals, including arc flash solutions. With its headquarters in Portland, Oregon, EasyPower was founded in 1984 and had been utilizing graphics-based modeling and analysis to simplify and make solving complex electrical engineering issues more accessible.
EasyPower software products are predominantly employed in designing, analyzing, and monitoring power distribution systems for commercial and industrial facilities, aiming to ensure safety, reliability, and compliance with regulations. By acquiring EasyPower, Bentley aims to expand its range of power systems design and analysis tools for various types of infrastructure digital twins, thereby enhancing its comprehensive approach to infrastructure engineering.
As we move towards a more electrified future, with energy resources spread out on both sides of the meter, the assessment and simulation of power distribution conditions and designs during the project and operating lifecycles will benefit all infrastructure assets of performance, economics, safety, and resilience. As a result, Bentley Systems is prioritizing the integration of EasyPower's schema and digital workflows into its OpenBuildings, OpenFlows, OpenPlant, OpenRail, and Bentley Raceway and Cable Management applications.
About Bentley Systems
Bentley Systems is a company that specializes in developing software solutions for infrastructure engineering. It offers innovative software tools for professionals and organizations of all sizes, enabling them to design, build, and operate various infrastructure assets such as roads, bridges, buildings, utilities, and mining facilities. Its products include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent's geoprofessional software portfolio, and the iTwin Platform for infrastructure digital twins. The company has a worldwide presence, with operations in 186 countries and over 4,500 employees. They generate around $1 billion in annual revenues, making them one of the leading players in the infrastructure engineering software industry.
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CONSTRUCTION
STACK Construction Technologies | March 20, 2023
STACK Construction Technologies is leading the pack when it comes to implementing robust security protocols. As measured by SecurityScorecard, STACK's ranking of 97/100 delivers an A grade to its state-of-the-art network security, DNS health, IP reputation, social engineering, and more. In comparison to competitors and other Construction Tech leaders, like Autodesk (81/100) and Procore (94/100), respectively, STACK is proud to be raising the bar and setting a new standard.
"At STACK, we strive to nurture a culture of security awareness, ensuring that every employee understands their role and the importance of safeguarding our systems and customer data," said Robert Vazquez, STACK's Chief Information and Security Officer. "We believe that independent and transparent evaluation is crucial to maintaining the highest standards of security and building trust with our customers. That's why we regularly engage independent third parties to conduct thorough evaluations of our security practices and provide valuable insights to help us continuously improve our security posture."
This remarkable dedication to data security comes at a time when the average cost of a data breach for small business is estimated at $2.98 million, and 65,000 vulnerabilities were discovered in small businesses in 2022, up 21% from the previous year. As an industry that's been slow to adopt newer technologies, construction can be a prime target.
That's why STACK is leading the way and has established a comprehensive system of robust data security protocols to mitigate risk. The company has expanded its SOC 2 compliance from construction to preconstruction solutions, ensuring security through a rigorous auditing process. STACK also implements Auth0 single sign-on (SSO), user management, and identity analytics, further protecting user data.
Its best-in-class engineering teams, HR, workforce enablement, and leadership are the backbone to its data security success. STACK also provides ongoing training and education to its employees to ensure they are aware of the latest threats and best practices for data security.
About STACK Construction Technologies
From project evaluation to completion, contractors use STACK's cloud-based software to help run their business and maximize their profits. Our preconstruction solutions enable fast and accurate takeoff and estimating, as well as providing a centralized hub where plans, specs, and other construction documents can be stored, evaluated, measured, and shared. Our construction solutions power real-time field and project collaboration by allowing teams to quickly and easily review, annotate, compare, and share plans, anywhere, from any device. STACK's superior collaboration tools ultimately improve project outcomes and profitability for contractors.
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PRODUCTS, MATERIALS, CONSTRUCTION
Colony Hardware | March 06, 2023
Colony Hardware, a leading direct-to-jobsite distributor of jobsite supplies and construction materials, has declared the acquisition of a South Carolina-based entity New South Construction Supplies, LLC (New South). It is a value-added distributor of concrete, rebar, waterproofing products, masonry, and contractor supplies.
Since forming a partnership with Audax Private Equity in November 2018, Colony has made a total of 12 acquisitions, the most recent being this one.
New South is one of the leading suppliers of construction supplies and building materials in the Southeast. The company was established in 1981 and now has locations in North Carolina, South Carolina, Georgia, and Florida. New South caters to commercial, residential, and industrial construction contractors as well as those working in waterproofing, restoration, and road-and-bridge construction.
Tim Rash, Chief Executive Officer of Colony Hardware said, “Bringing New South Construction Supply and Colony Hardware together is impactful in several ways and represents Colony’s largest partnership to date.” He added, “Earning the trust of Jim Sobeck and the New South team further reinforces the industry view that we are the partner of choice for owners of distribution companies seeking to scale their business, grow their legacy, and help their valued employees prosper. More importantly, New South’s reputation for quality customer service and their dedicated associates mirror Colony’s ‘client-driven’ culture.”
Jim Sobeck, CEO of New South, stated, “We are proud to become part of the Colony Hardware family and especially pleased that our people and locations will remain the same as we add more locations to better service contractors across the South. With Colony's leadership and reputation, I look forward to seeing New South continue on its growth trajectory with Colony’s backing. The future is bright for our business, our associates and the loyal customers of New South and Colony Hardware.”
(Source – BusinessWire)
About Colony Hardware
Colony Hardware, founded in 1988 and headquartered in Orange, CT, has 59 branches across Northeast, Mid-South, Midwest, Mid-Atlantic, and Florida. It provides Equipment & Tools, Safety Products, Supplies, Rental and Repair to construction industry. Their quality and services are unparalleled. Items are carefully chosen based on their value, durability and quality. Colony understands that the public needs goods at the correct place, timing, and price to achieve their rigorous deadlines. They stock more than 25,000 diverse goods from about 750 manufacturers. They aim to finish thousands of orders, so that tradespeople can work safely and efficiently.
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