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NV5 completes acquisition of myBIMteam to strengthen subscription-based services

May 20, 2024•over 1 year ago

Acquiring Company

NV5 Global

Acquired Company

myBIMteam

HollywoodBostonConstructionConsultingFacility ManagementBuilding Maintenance

Description

NV5 Global, Inc. strengthens its technology and tech-enabled services with the acquisition of myBIMteam (TMCADD Consulting Services, LLC). This acquisition reinforces NV5’s strategic focus on expanding recurring and subscription-based services and incorporating digital twins and 3D reality capture into its building systems portfolio.

Company Information

Company

NV5 Global

Location

Hollywood, Florida, United States

About

NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed