Nemetschek acquires Design Data, a leading US provider of BIM 3D modeling software for steel structures
Munich, July 28, 2016 – Software provider Nemetschek SE (ISIN DE0006452907) has agreed today to acquire 100% of the shares of Design Data Corporation, headquartered in Lincoln, Nebraska, USA.
Design Data is a leading provider of Building Information Modeling (BIM) software solutions for the structural steel detailing industry. The BIM software suite from Design Data provides sophisticated and complete solutions covering the entire steel delivery workflow. The customer base includes engineering design companies, steel fabricators, general contractors and detailers. With around 4,000 users, Design Data maintains a market share of around 45% in North America. With the acquisition, the Nemetschek Group fills a last gap in its AEC portfolio and expands its expertise in engineering detailing software for steel. The steel structure solution expands on Nemetschek’s current expertise in concrete construction. As a solution provider for steel and concrete, Nemetschek rounds off its competence as a multi-material provider, and can make even better use of its growth potential in the growing BIM market. At the same time, the Group’s US image as an Open BIM provider will be positively expanded. Design Data, in turn, will profit from Nemetschek’s strong presence in Europe, where Nemetschek already has established a leading market position with its engineering solutions for concrete construction. This market coverage in Europe is an ideal basis for future growth of Design Data in that region. Design Data was founded in 1981 and has 65 employees. For the last 12 months, Design Data anticipates revenue amounting to around US $10 million. The purchase price for 100% of the shares amounts to about US $46.4 million (cash-/debt-free). This is supplemented by an earn-out component, which is linked to the increase in revenue and to profitability in the financial year of 2018. According to today’s perspective, an earn-out payment amounting to US $2.5 million is forecast. The financing of the purchase price is provided by taking out of a loan in the amount of US $42 million and also by using the company’s own capital resources. The acquisition is expected to be closed by the beginning of August 2016.