The construction collaboration software business is estimated to be worth a potential $5.6 billion
Founded in 2000, think project! is a Munich-based SaaS provider for construction and engineering projects.
It offers a cloud-based SaaS spanning contract management and tender management that is used by more than 100,000 users in 40 countries; it also offers a suite of API integrations with other business software.
The acquisition comes as private equity-backed think project! eyes a growing slice of the construction collaboration software business, which is estimated by Frost & Sullivan to be an addressable market worth $5.6 billion with a current penetration of less than 10 percent, representing a huge opportunity.
RAAM Software meanwhile was founded in 1991 and provides road assessment and maintenance management software to Road Controlling Authorities (RCAs), their consultants and their contractors. In Australia, over 120 local governments use RAMM Software.
Among think project!’s customers are companies such as Austria’s Strabag, which it is helping construct an EU corridor linking Budapest, Sarejevo and Ploce. The buyout of RAAM Software will also strengthen think project!’s position in the APAC region following its opening of an office in Hong Kong.
Graeme Norman, MD of RAMM Software, will continue to lead the company and will work as regional manager for Australia and New Zealand.
The other three companies that have been bought by the construction organisation company with TA Associates backing are Conetics AG, a web based project management company, Cemar, a contract management solution company and a software service provider called Conclude.