Fri, 03 Oct 2014 20:53:20
DGAP-Ad-hoc: Nemetschek AG acquires US software provider Bluebeam
Nemetschek AG / Key word(s): Acquisition
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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
- 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.
For further information on the company, please contact
+49 89 92793 1229
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Company: Nemetschek AG
Phone: +49 (0)89 92 793-0
Fax: +49 (0)89 927 93-5200
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service