Hexagon AB, a global leader in digital reality solutions combining sensor, software and autonomous technologies, today announced the acquisition of Projectmates, a SaaS-based, owner-focused, enterprise construction project management software provider.

Since 1997, Projectmates has been delivering a best-in-class solution designed specifically with an owner’s needs in mind: delivering positive ROI from every construction dollar spent. Projectmates’ configurable and centralised platform enables owners to keep all working documents and projects within a construction program up to date and in one place – from the planning stages through closeout and handover to the facilities management team.

Linking owners with job sites in real-time and tracking critical information about design changes, job site progress and expectations provides owners with the necessary visibility to make sure projects are executed, monitored, controlled and closed on time and within budget. With powerful reporting and a single view of an entire project portfolio – from capital planning and budget allocation to bidding, contracts, change orders, invoicing and payment – owners can streamline communications and collaboration with architects, engineers and contractors to improve response times, workflows and ROI.

“The solutions that general contractors leverage to help mitigate budget overruns and schedule delays during an asset’s construction are often too limited to manage an entire construction program over multiple projects – from concept to closeout – and don’t provide the relevant information required by the asset owner,” says Hexagon President and CEO Paolo Guglielmini. “Purpose-built for owners, Projectmates’ next-generation SaaS technology transforms how projects are visualised and managed. Through intelligent tracking of project schedules, costs and values, owners of any construction project – from industrial and commercial assets to infrastructure – can avoid delays and save money.”