Textura Corporation Adds Bid Management Capabilities with Acquisition of GradeBeam.com

DEERFIELD, Ill., Oct. 19, 2011 /PRNewswire/ -- Textura Corporation, the leading provider of collaboration solutions for the commercial construction industry, announced today that it has acquired GradeBeam.com, a leading online communications network for general contractors and subcontractors. GradeBeam.com's online bid management service, cloud-based document sharing and construction communication tools will supplement Textura's existing suite of collaboration products for the construction industry.

"This acquisition allows us to extend our mission to better serve the construction industry by providing additional collaborative solutions that offer significant value to all participants on construction projects," said Patrick Allin, Chairman and CEO of Textura.  "Leading the industry's technology transformation, we are combining the technical expertise of Textura and GradeBeam.com to empower our clients with productivity tools that span the entire construction lifecycle – from pre-qualification to payment – on a single, integrated platform."  

An innovator, Textura is proactively enhancing its capabilities to drive the transformational shift to virtual collaboration among key players in construction.  GradeBeam.com will help bolster Textura's strong position as the leader in this growing market by increasing Textura's capacity to keep the industry connected from the start through the finish of jobs.  

"We are excited to have the opportunity to join Textura and further enhance our combined products with our industry expertise, technical knowledge and brand reputation," said Bryan Jurewicz, President and CEO of GradeBeam.com.  "Textura and GradeBeam.com have demonstrated success in delivering efficient and effective solutions that help the industry focus on construction, not paperwork.  This acquisition strengthens our value proposition to our customers and allows us to expand the offerings available to them."

The addition of GradeBeam.com enables Textura to further broaden its existing suite of products and services. Building on the success of PQM™ and CPM™, Textura's partnership with GradeBeam.com will generate new and important ways to serve the commercial construction marketplace through online bid management systems.

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 GradeBeam.com

GradeBeam.com is the only fully managed online communications network built BY and FOR the construction industry. Founded in 2000, the Chicago-based company serves all of North America, providing a secure, online resource for the exchange of information, allowing industry professionals to post, manage and access critical project information at a central location. GradeBeam.com simplifies and expedites the massive information exchange that occurs in all construction projects, including invitations-to-bid (ITBs), drawing/specification distribution, corrections, addenda, requests for information and responses.

General contractors use GradeBeam.com to post project information online, search for subcontractors and suppliers, send bid invitations, distribute paper documents through local printing firms, track bid responses and issue project change information. Subcontractors and suppliers use GradeBeam.com; to control and promote their company's qualifications in one central database, find public construction opportunities, receive private bid invitations, review project information online and expand their market. For more information, please visit www.GradeBeam.com.  

SOURCE Textura Corporation

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