Reston-based LATISTA being sold for $35 million
Chicago-based Textura Corp. plans to acquire Reston-based LATISTA for $35 million in cash.
Textura provides collaboration and productivity tools for the construction industry. LATISTA creates mobile-enabled solutions for construction projects.
The deal is expected to close on Dec. 2.
“LATISTA propels us to the forefront of the application of mobile technology to the construction industry,” Patrick Allin, the chairman and CEO of Textura, said in a statement.
Textura said the construction industry has embraced the adoption of mobile technology, with smartphones and tablets becoming widely used on job sites.
A survey published by Engineering News-Record found that 94 percent of general contractors with greater than $10 million in annual revenue will adopt tablet usage in the field by 2015.
LATISTA modules handle mission critical construction workflows, including quality management, punch lists, safety, electronic commissioning, and document management, including managing project specific plans and drawings.