Oracle to buy Textura for $663 million
- ByReuters
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Textura Corporation develops Software as a Service platform that helps real estate developers and contractors streamline construction projects by providing a central location for contracts, plans, bids, payments, and field management tools. The company provides Textura-CPM that electronically integrates all construction payment management process components, and Textura-PQM that automates the entire pre-qualification process by facilitating the electronic submission, review, approval and updating of all pre-qualification documents. It offers PlanSwift, an estimating software that automatically generates flawless construction takeoffs and estimates; Pre-Qualification Management, a qualification management software to automate and improve the construction prequalification process via a collaborative online system; and GradeBeam, an online construction bid management software. The company also provides Construction Payment Management that automates and streamlines payment management, including invoicing, lien waiver collection, and compliance; Early Payment Program that enables general contractors to pay subcontractors faster; Submittal Exchange that creates a central place where everyone has access to construction project documents, including a full view of version histories, schedules, and reminders; and Latista, a construction field management software that offers complete construction quality control and field management in a mobile app. In addition, it offers PerformanceTracker, a solution for contractor performance evaluation subcontractor and vendor performance evaluations. Its solutions serve construction industry professionals across the project lifecycle, such as takeoff, estimating, design, pre-qualification, bid management, submittals, field management, LEED management, performance management, and payment in the United States, the United Arab Emirates, Canada, Europe, and Asia. The company was founded in 2004 and is based in Deerfield, Illinois. It has operations in Melbourne, Australia; Slough, United Kingdom; Phoenix, Arizona; Reston, Virginia; and Chicago, Illinois. As of June 9, 2016, Textura Corporation operates as a subsidiary of Oracle Corporation.