PROCORE TECHNOLOGIES, INC. acquires Construction BI, LLC
Snapshot
PROCORE TECHNOLOGIES, INC. acquired Construction BI, LLC for approximately $1.1 million in August 2019. The transaction was structured as all cash. Construction BI, LLC is a Ohio, USA-based Business intelligence / analytics business.
- Acquirer
- PROCORE TECHNOLOGIES, INC.
- Target
- Construction BI, LLC
- Value
- approximately $1.1 million
- Date
- August 2019
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
PROCORE TECHNOLOGIES, INC. acquired Construction BI, LLC for approximately $1.1 million, a transaction completed in August 2019, structured as all cash.
Construction BI, LLC operates in Business intelligence / analytics, is based in Ohio, USA. Construction BI (“CBI”) is an Ohio limited liability company. Per the S-1, Procore completed the acquisition of CBI on August 8, 2019 by acquiring 100% of the outstanding voting interests for approximately $1.1 million in cash consideration; the purchase price was primarily allocated to developed technology intangible assets. The acquisition led to the release of Procore Analytics.
The purpose of this acquisition is to accelerate the development of the Company's business intelligence and data analytics solutions.
Analytics technology to seed Procore's BI roadmap. Technology became Procore Analytics; held as Construction BI, LLC subsidiary.
No advisory firms have been disclosed for this transaction.