BIMobject acquires Swedish Convergo and increases the number of manufacturers on its global platform
BIMobject, which offers a global cloud-based platform and marketplace for digital building and interior products, acquires Convergo. The Swedish IT company develops BIM objects for about 50 Nordic and European manufacturers of, for instance, furniture, fittings, ceilings, and lighting. The company has an annual turnover of approximately SEK 4 million, and the acquisition has a marginal positive impact on BIMobject's earnings.
Convergo works with about 50 strong Nordic and European brands, which through the acquisition will have access to BIMobject's entire service portfolio as well as a global marketplace. This means that Convergo's customers, for instance Vitra AG, Oras Group and DEDON, will have the possibility to reach over one million users such as architects, construction companies, and designers. Convergo will continue its operations under its own brand, but with access to BIMobject's various services.
The acquisition of Convergo is in line with BIMobject's growth strategy to quickly acquire companies that add competencies as well as new customers, downloadable objects, and ultimately users.
“Convergo has been very successful in attracting locally based manufacturers and creating value for manufacturers with a strong position in the Nordic market. Through this acquisition, we open the door to a global market for Convergo's customers, thus sharpening BIMobject’s, Convergo’s and manufacturers' offerings”, says Carl Silbersky, Senior Vice President Corporate Development at BIMobject.
“We are very proud to be part of BIMobject and to be able to offer our customers a wider range of services and additional added value. We are a small company, but the need for conversion to BIM objects is great, and BIMobject's tools facilitate the work while BIMobject Cloud represents a huge market potential for our customers. We clearly see that both product manufacturers and users of BIM objects request increased access to each other”, says Carl-Johan Lundberg, CEO of Convergo.
For more information, please contact:
Carl Silbersky – SVP Corporate Development
Stefan Hansson – CFO
Tel: +46 40 685 29 00
This information is information that BIMobject AB (publ) is obliged to publish in accordance the EU Market Abuse Regulation. The information was provided by contact persons above for publication on 9 January 2019 at 14:15 CET.
About BIMobject AB
BIMobject is a leading global IT company at the forefront of digitalisation of the construction industry. BIMobject offers a cloud-based platform, with over 1,000 manufacturers providing digital product information. Around the cloud-based platform, which currently has over 1 million users, BIMobject offers a number of solutions aimed at property owners, construction companies and the trade sector. BIMobject, founded in 2011, operates in 20 countries and has over 200 employees. Revenue for 2017 amounted to SEK 84 million. BIMobject's shares are traded on Nasdaq First North under the ticker: BIM. BIMobject's Certified Advisor is FNCA Sweden AB. www.bimobject.com
This is an English version of an original Swedish press release communicated by BIMobject AB. In case of interpretation issues or possible differences between the different versions, the Swedish version shall apply.