Textura Corporation Expands Collaborative Platform with Acquisition of Submittal Exchange®

DEERFIELD, Ill., Nov. 9, 2011 /PRNewswire/ -- Textura® Corporation, the leading provider of collaboration solutions for the commercial construction industry, announced today that it has acquired Submittal Exchange®, a provider of Integrated Project Collaboration (IPC) Software for exchanging, reviewing and archiving construction submittals, RFIs and other construction communications. Submittal Exchange's online system and advanced communication tools will extend Textura's existing product suite further upstream, offering new capabilities to a broader range of construction project owners, architects and designers, as well as new services to general contractors and subcontractors.  

"By expanding our platform reach to designers and architects, we are increasing collaboration and efficiencies across the construction lifecycle, from concept to construction," said Patrick Allin, chairman and CEO of Textura. "This acquisition further demonstrates our commitment to lead the industry's technology transformation. By uniting the capabilities of Textura and Submittal Exchange on a single platform, our clients will enjoy easy-to-use, effective productivity tools that will save time and money and reduce exposure to risks. This is the first time the industry has all the tools needed to manage their business in an integrated fashion."

As the industry's leader of collaboration solutions, Textura is aggressively expanding its product suite to serve construction industry professionals across the construction lifecycle, from design and pre-qualification to bid management, submittals and payment. Submittal Exchange advances Textura's leadership position by strengthening connections between building owners and architects with general contractors, subcontractors and others.

"Also with Submittal Exchange," continued Allin, "we look forward to adding Greengrade™ LEED management software to our product lineup, allowing clients to communicate, track and manage all LEED project information. This will become increasingly important in the years ahead as the demand for environmentally friendly and efficient buildings becomes more intense."

"We are excited to join Textura and combine our products to deliver end-to-end capabilities for the first time in a truly integrated platform linking our clients and their project partners," said Matt Ostanik, AIA, CSI, LEED AP BD+C, President of Submittal Exchange. "Textura and Submittal Exchange can together serve a greater portion of the industry and the industry's needs, making virtual collaboration a win-win for all."

The acquisition broadens Textura's current platform of PQM™, CPM™ and GradeBeam.com™ for bid management and offers comprehensive online sharing for the submittal process, providing virtual storage and exchange of design materials, with whiteboard and automatic synchronization tools for designers and architects.

Financial terms of the acquisition have not been disclosed.

About Textura

Founded in 2004, Textura has developed the only robust collaborative industry solutions for construction payment management, Textura - CPM™, and for pre-qualification management, Textura - PQM™.

Textura - CPM™ electronically integrates all construction payment management process components -- billing, lien waver collection, statutory declaration collection, sub-tier waivers, compliance management and payments -- into one seamless work flow. CPM helps contractors and others involved in construction projects realize significant efficiency benefits from automation and streamlining; and risk reduction from improved control and visibility.

Textura - PQM™ automates the entire pre-qualification process for everyone by facilitating the electronic submission, review, approval and updating of all pre-qualification documents. PQM's online data management system speeds the pre-qualification process by allowing subcontractors to enter their information one-time into a database which can then produce tailored pre-qualification forms that provide specific information required by individual general contractors. PQM provides contractors with dramatic efficiency benefits and a foundation for better information and decision-making. PQM supports MWBE programs. Please visit our website at www.texturacorp.com.

About Submittal Exchange™

Submittal Exchange is a collaborative, secure online system for exchanging, reviewing, and archiving construction submittals, RFIs, and other design and construction communications electronically. Thousands of design firms, contractors, and owners utilize the Submittal Exchange system on projects across the U.S., Canada, and Europe. Submittal Exchange has been in business since 2003.  In 2011, Submittal Exchange received the Construction Specifications Institute's (CSI) prestigious Construction Technology Award for innovative use of technology to improve the construction process.  Greengrade, a subsidiary of Submittal Exchange, is a collaborative online LEED® management software tool that allows project teams to communicate, track, and manage LEED project information.

For more information, please visit www.SubmittalExchange.com or call Erica Kiefer, Marketing Manager, at 800.714.0024 x216.

SOURCE Textura Corporation

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