BIMobject AB: BIMobject acquires Dubai Media City-based social media platform The BIM Hub
BIMobject AB, listed at Nasdaq First North, has today acquired all companies that are part of The BIM Hub Group. The group is based in Dubai, United Arab Emirates, and in England. BIMobject takes over some employees, customer agreements, technical platforms, domains, trademarks and all customer data as well as relationships on thebimhub.com.
The BIM Hub is a privately-owned web platform with operations in Dubai, United Arab Emirates, and West Yorkshire, England. The BIM Hub is a professional social media platform for BIM users, property owners, architects, engineers and contractors as well as project managers, property managers and facility managers. The platform's focus is to offer content such as educational materials, presentations, standards, white papers, videos, news, and events. In addition, there are various forums adapted for the construction industry, working with or in connection with the emerging BIM industry.
The BIM Hub is advertising-funded, but BIMobject's intention is to integrate the business, both technically and commercially, as soon as possible. Moreover, BIMobject intends to offer its 800,000 users completely new communication and information-sharing opportunities in the digital construction industry. The acquisition is important for BIMobject's investment in the Digital Buildings business area, seeing that it will increase knowledge and communication about the BIM technology. Additionally, the platform will support e-learning, which means that The BIM Hub will include all information and communication about BIMscript and other technologies required for shared learning.
The acquisition means that BIMobject acquires 6,000 active users, 200 manufacturers of building materials, web traffic and brands. The acquisition will strengthen BIMobject's new business area www.bim.com. The BIM Hub also complements BIMobject Cloud and adds a communicative network that opens up new opportunities for social interaction between BIMobject Cloud, Hercules and BIMsupply. The platform has taken 5 years to develop for The BIM Hub, and BIMobject will through the acquisition have access to an attractive technical solution based in Dubai.
"The acquisition of The BIM Hub is very strategic, and it establishes us in a strategically important marketplace in Dubai Media City. We acquire a market-leading and unique technology platform, established relationships and companies, as well as web traffic and users. Additionally, we are expecting to transform The BIM Hub office to the headquarters in the Middle East. There will be a focus on sales and development of the existing Development department, as well as building a center for BIMscript developers. Together, these activities will significantly strengthen our position in the region", says Stefan Larsson, CEO of BIMobject.
At the time of acquisition, the business had an estimated annual turnover of approximately SEK 1 million. The acquisition has a marginal impact on BIMobject's earnings.
For more information, please contact:
Stefan Hansson - CFO
Tel: +46 40 - 685 29 00
This information is information that BIMobject AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on May 23, 2018.
BIMobject is a Swedish technology company with a global presence operating at the forefront of digitalising the building industry. BIMobject provides a cloud-based platform and powerful technology to make digital product information available for Building Information Modelling (BIM), allowing its use early in the building process for visualisation, specification, and analysis. The platform collects valuable data that streamlines the construction industry throughout the product lifecycle. More intelligent design and construction lead to better product selections, reduced waste, and more efficient logistics during the building process. At the same time, property management benefits from higher quality, improved use of energy, and lower operating costs.
Today, BIMobject operates in a number of markets and has a global growth strategy. The company's offerings include development, hosting, management, and publishing of digital versions of manufacturer products: BIM objects. Its customers are building and interior product manufacturers who market their products via the BIMobject Cloud. The user base consists primarily of architects, designers, and engineers, who access the BIMobject Cloud through CAD/BIM-applications, apps, and web services. The BIM objects are integrated into a detailed model of the building, which increases the chance that the real products will be selected for purchase.
BIMobject is a public company listed on Nasdaq Stockholm First North with the ticker symbol BIM.
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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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BIMobject AB via Globenewswire