Nemetschek acquires US software provider Bluebeam

  • Bluebeam is a leading provider of PDF-based workflow solutions for digital processes and collaboration
  • Significant reinforcement and expansion of market position in North America
  • Extension of user base by more than 650,000 users

Munich, October 3, 2014 – Software provider Nemetschek AG (ISIN 0006452907) announced today that it will acquire 100% of Bluebeam Software, Inc., headquartered in Pasadena/California, USA.

Bluebeam is a leading provider of PDF-based workflow solutions for digital processes and collaboration in the AEC (Architecture, Engineering, Construction) industry with more than 650,000 users worldwide. In the 2013 financial year, Bluebeam generated revenues of approx. US $22.4 million, which corresponds to a 48% growth over the previous year. In the first half of 2014, Bluebeam continued on an accelerated growth path and generated revenues amounting to US $16.5 million. The operating result (EBIT) in the first half of 2014 was US $3.2 million. Its customers include more than 74% of top US companies in the construction industry, according to industry rankings by Engineering News-Record.

With the acquisition, the Nemetschek Group not only extends its solution offering strategically but also reinforces its international market presence especially in North America. At the same time, as a result of Bluebeam, additional customer potential is within reach for the strong CAD brands from the Design segment. Bluebeam, in turn, will profit from Nemetschek’s stronger presence in Europe and Asia.

Bluebeam was founded in 2002 and has about 150 employees. In addition to its headquarters in Pasadena, the company has offices in San Diego, Chicago and Manchester. Sales are made online, via direct sales and a network of about 180 resellers worldwide.

In keeping with the strategic alignment of the Nemetschek Group, Bluebeam will continue to be led by its current management as an independent brand company in the future.

The purchase price of the acquisition amounts to about US $100 million (cash-/debt-free). Financing is provided by the company’s own capital resources and the taking out of a loan. The purchase price includes earn-out components, which are linked to the increase in revenues and profitability in the financial years from 2014 to 2016. According to today’s perspective, earn-out payments of approx. US $3.5 million are anticipated. The acquisition is subject to the approval of Bluebeam’s shareholders and is expected to be closed in October 2014.

IR contact and order service for financial publications

You would like to contact our IR department via e-mail or order financial authorities? We have prepared the following mail form for you. Just fill in and send it off. We will contact you immediately.

 
 

IR Contact form

General
* Please fill in the fields marked with an asterisk. All other fields are optional. We use your transmitted data only for the purpose of answering your inquiry. For information on the handling of your personal data, please refer to our data protection declaration.
 
 

Order form

General

* Please fill in the fields marked with an asterisk. All other fields are optional.

** I agree that Nemetschek SE may inform me regularly by e-mail about current topics in the field of Inverstor Relations and use the e-mail address I have provided for this purpose. If you do not wish to receive further information by e-mail, you can revoke your consent at any time with effect for the future by clicking on the link provided in any e-mail sent by us as part of the Mail Service or by e-mail to Investorrelations@nemetschek.com. For further information on data protection, please refer to our data protection declaration.

*** I agree to Nemetschek SE sending me the requested documents by post from now on. If you do not wish to receive any further information, you can inform us at any time by e-mail to Investorrelations@nemetschek.com.

Unsere Marken