Felix Group Holdings Ltd (ASX: FLX) (“Felix” or the “Company”) is pleased to announce it has signed a strategic agreement with InEight Inc. (“InEight”), an US-based global construction management software company.
The agreement will leverage the connected solution between Felix and InEight’s software platforms, creating a more comprehensive management solution for Contractors. Felix will benefit from enhanced market access, with InEight providing referrals to its existing base of customers. In addition, the parties will work together to jointly pursue new business opportunities in international markets. Each party will separately agree to contracts with customers and referrals. The agreement follows Felix and InEight collaborating on joint opportunities with Australian Contractors.
Felix’s Co-Founder and CEO, Mike Davis commented:
“We are extremely excited to announce this significant agreement with InEight, which has been many months in the making. This collaboration is a great endorsement of our technology and platform and will allow us to scale efficiently into international markets, without the need for any significant setup or modifications to the platform. We would like to thank our shareholders for their ongoing support as we continue to deliver on our long-term growth strategy.”
InEight is a leading construction project management software company with solutions spanning planning, project cost management, safety, field execution, analytics, document management, capital management and virtual design to a global customer base. Their platform has over 400,000 users and has been deployed on over US$400bn worth of construction projects around the world.
The collaboration complements Felix’s fast growing direct sales activities across Australia and New Zealand, while providing an opportunity to rapidly scale Felix’s domestic and international market penetration. Felix’s unique procurement offering is highly complementary to InEight’s existing integrated platform covering the project planning, construction and turnover phases. Further, Felix’s platform deepens InEight’s project management capabilities and is expected to enhance the joint value proposition of both companies in bidding pursuits to large Contractors.
The agreement is Felix’s first international collaboration, demonstrating the global relevance of Felix’s solutions globally, while significantly enhancing the Company’s local and international profile. While Felix’s key focus is on converting its significant pipeline of opportunities in ANZ, the agreement provides a de-risked and capital-light entry into international markets.
InEight’s CEO, Jake Macholtz commented:
“This is a strategic agreement for InEight, deepening our offering with new procurement management capabilities that are beneficial to our customers and the depth of industries that we serve globally. We have already identified a number of customers where our joint value proposition is highly relevant in the Australian market. We are excited to work with the Felix team and look forward to collaborations to grow our base of customers.”
InEight provides field-tested project management software for the owners, contractors, engineers and architects who are building the world around us. Over 400,000 users and more than 850 customers worldwide rely on InEight for real-time insights that help manage risk and keep projects on schedule and under budget across the entire life cycle. From pre-planning to design, from estimating to scheduling, and from field execution to turnover, InEight has powered more than $400 billion in projects globally across infrastructure, public sector, energy and power, oil, gas and chemical, mining, and commercial. For more information, follow InEight on LinkedIn or visit InEight.com.
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