PROCORE TECHNOLOGIES, INC. acquires Zimfly, Inc. (BIManywhere)
Snapshot
PROCORE TECHNOLOGIES, INC. acquired Zimfly, Inc. (BIManywhere) for approximately $3.9 million in September 2018. The transaction was structured as all cash. Zimfly, Inc. (BIManywhere) is a Alameda, California, USA-based Building information modeling (BIM) business.
- Acquirer
- PROCORE TECHNOLOGIES, INC.
- Target
- Zimfly, Inc. (BIManywhere)
- Value
- approximately $3.9 million
- Date
- September 2018
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
PROCORE TECHNOLOGIES, INC. acquired Zimfly, Inc. (BIManywhere) for approximately $3.9 million, a transaction completed in September 2018, structured as all cash.
Zimfly, Inc. (BIManywhere) operates in Building information modeling (BIM), is based in Alameda, California, USA. Zimfly, Inc. (“Zimfly” or “BIManywhere”) is a privately held Delaware corporation with its principal offices in Alameda, California. Per the S-1, Procore completed the acquisition on September 19, 2018 by acquiring 100% of the outstanding voting interests for approximately $3.9 million in cash consideration (including deferred payments), which became the basis for Procore BIM.
The Company's primary reason for this acquisition was to increase the Company's technology capabilities in building information modeling (“BIM”).
BIM technology to add 3D modeling capabilities to the platform. Goodwill of $0.4 million attributable to synergies expected from integration of Zimfly. Technology launched as Procore BIM in 2019.
No advisory firms have been disclosed for this transaction.