BFS Acquires Katerra’s Collaboration Software Assets
Builders FirstSource announced that it has acquired the Apollo software assets from bankrupt construction technology startup Katerra.
The transaction is valued at $4.5 million, Builders FirstSource reported.
The Apollo platform provides design collaboration and workflow, construction budgeting and scheduling, and field task assignment with mobile functionality.
Katerra produced cross-laminated timber (CLT), building products, and mass timber solutions, but declared bankruptcy in June. Two months later, the company sold off its state-of-the-art manufacturing facilities in California and Washington.
The technology was introduced by Katerra at the International Builders Show in Las Vegas in 2019.
According to Builders FirstSource, the acquisition aligns with its digital strategy to address inefficiencies in the home building process. The move also complements the company’s recent acquisition of WTS Paradigm, LLC.
“We are well-positioned to lead the digital transformation in home construction, which significantly lags behind other industries in the application of technology to drive efficiency,” said Dave Flitman, President and CEO of Builders FirstSource. “Our digital strategy focuses on how we can make our customers’ businesses better by shortening project timelines and reducing waste.”
Flitman noted that the Paradigm acquisition provides Builders FirstSource with a critical entry point and the ability to be a leader in whole-house design. Now the company can move even further down the digital highway while assisting home builders with new solutions.
“The Apollo software builds upon that foundation, providing features and functionality that will help us streamline the construction process,” Flitman said. “We look forward to leading the construction industry into a new age of technological innovation and efficiency.”
Builders FirstSource is based in Dallas Texas and operates about 550 locations in 39 states.