Portland, Ore.-based Viewpoint Construction Software has agreed to be acquired by Silicon Valley-based giant Trimble for $1.2 billion in an all-cash deal. The Oregonian called it the “biggest deal ever for a Portland tech company.”
Originally founded in 1976, Viewpoint employs 700 people and makes software products for the construction industry used in planning, estimating, documents, and more. It has 8,000 customers worldwide. Bain Capital paid $230 million to acquire a majority of Viewpoint in 2014. Last year, Viewpoint (previously known as Coaxis) paid $180 million to acquire Seattle-based Dexter + Chaney, which still has a presence in Seattle.
Trimble is known for its GPS technology and posted $2.7 billion in revenue last year. It expects Viewpoint to contribute $200 million in revenue next year. The deal is expected to close in the third quarter.