The construction technology world has been no stranger to acquisitions and mergers in recent years, as many larger players are gobbling up startups and other specialty software to quickly grow their offerings and expand their value to their customers. The latest acquisition comes from a somewhat surprising source, however, as Stanley Black & Decker, the power tool and storage company, has acquired Buildup, a task management, punch list, and inspection software company.
Buildup is a mobile friendly punch list tool that embeds the tasks, details, and pictures of each item directly onto your project’s floor plan. The items can then be assigned to specific companies or employees to complete and full reports can be created to keep everyone on the team aligned.
For more information about Buildup, you can check out my interview with Stephen Haskin, the CEO or Buildup by clicking or tapping here.
While Stanley Black & Decker is ultimately the company to acquire Buildup, the company was more specifically acquired under the Stanley X umbrella. Stanley X is the innovation center for the parent company, leading the company’s charge in in-house construction software development, partnerships, and acquisitions.
In the past, Stanley X announced a partnership with DeepHow, an AI powered video training solution. Buildup marks the groups first acquisition.
“We are excited to welcome Buildup to STANLEY X as we expand and grow our construction technology capabilities”, said Michael Keogh, VP & President of STANLEY X. “Collaboration is central to construction, and Buildup’s collaborative platform aligns well with our existing vision and strategy. We are certain that a partnership between our collective teams will create growth opportunities and deliver extraordinary experiences to our customers.”
Stanley plans to retain the branding for Buildup while offering additional resources for the software to continue to grow. It will also be used to augment and enhance one of Stanley X’s in-house developed software, OneConstruct, which is yet to be officially released.
OneConstruct is designed to connect field staff to their management team to synchronize schedules and workplans. The company plans to target trade contractors, self-performing GCs, and commercial fabricators with the solution.
“Buildup extends our current OneConstruct offering into a collaborative trade solution, and it will certainly accelerate our efforts in improving construction productivity on job sites”, adds Justin Saeheng, Head of Construction Technology at STANLEY X.
As a whole, Stanley Black & Decker is not new to technology, their DeWalt brand has been developing software and hardware for years, including a full lineup of Bluetooth connected tools and accessories and a construction site WiFi solution, among others. It’s noteworthy, still, that Stanley is acquiring construction technology brands outside of tools, which signals that they have optimism surrounding continued adoption of project management technology in the construction industry.