Category: <span>2022</span>

Foundation Software announces acquisition of RT3 member Estimating Edge

This acquisition further enables Foundation to provide software and services that align and strengthen contractors back-office operations.

Foundation Software, LLC — provider of America’s #1 construction back-office solutions — has announced the acquisition of Estimating Edge, developer of The EDGE™ commercial construction estimating, project management tracking and takeoff software.

This acquisition further enables Foundation to serve the construction community by providing software and services that align and strengthen contractors back-office operations.

Estimating Edge creates a professional, all-in-one commercial construction estimating, project management tracking and takeoff software for acoustical, drywall, EIFS, fireproofing, flooring, painting, roofing, wall paneling and waterproofing contractors. By adding Estimating Edge to their family of products, Foundation now offers an even more complete solution for contractors to take control of their projects at every stage.

“It’s an exciting time right now,” said Adam Oaks, CEO of Estimating Edge. “We’ll continue to focus on takeoff, estimating and project management for specialty trade contractors, but now being part of Foundation Software, we’ll have more resources to provide even greater value for our customers.”

Foundation continues to grow its product offerings through both development and acquisitions. Mike Ode, CEO of Foundation Software, looks forward to what this latest addition will mean for the industry.

“We are excited to have Estimating Edge join the Foundation Software family of companies. The addition of their commercial construction estimating and takeoff products will allow us to move closer to the goal of becoming an all-in-one back-office solution for contractors,” Ode said. “We’re looking forward to working with the Edge team and learning from their years of expertise serving commercial specialty trade contractors. Together, we’ll be able to provide leading and proven software tools to both our clients and the industry as a whole.”

With their shared business and cultural alignment, Oaks knew the decision to join Foundation was the right one.

“It was the right choice to partner with Foundation Software,” said Oaks. “They are the best-of-breed accounting solution, and their customer focus and company culture is one that closely aligns with ours.”

Terms of the deal have not been disclosed. Raymond James served as financial advisor to Estimating Edge and Kirkland & Ellis served as legal advisor to Foundation Software.

Visit Estimating Edge or Foundation Software to learn more about their products.

About Foundation Software, LLC

Foundation Software delivers job cost accounting, project management and mobile applications, along with payroll services, to help contractors run the business side of construction. For information, call (800) 246-0800 or email info@foundationsoft.com.

About Estimating Edge

Estimating Edge is a team of tradesmen and software engineers working together to build “cutting-edge” software for the construction industry. For more than 30 years, Estimating Edge has been a trusted provider of commercial construction takeoff and estimating software. The company’s flagship product, The EDGE, is designed around the construction workflow, not the way the software companies believe the user should be estimating. The software is intuitively designed to help both new and seasoned professionals work smarter, bid sharper and build better. Supported trades include roofing, drywall, acoustical, fireproofing, flooring, exterior insulation, painting and wall panels. For more information, call 561-276-9100 or email marketing@estimatingedge.com.

RT3 members share tips on cybersecurity for contractors

In a recent article from Roofing & Exteriors, editor Gary Thill spoke to RT3 members from Furman Insurance and Cotney Attorneys & Consultants about the ways contractors can protect themselves from cyber attacks. In fact, Thill writes that “construction companies are now the no. 1 target for ransomware attacks.”

John Kenney of Cotney Attorneys & Consultants said he has seen more than a dozen contractors who have been hit with ransomware attacks where hackers were asking for anywhere from $20,000 to $1 million, telling Thill, “There are a lot of contractors getting hit with ransomware, but the truth is no one wants to talk about it because you don’t want it out there.”

Furman Insurance’s Nick Ondo, a commercial risk advisor, says that contractors have become targets because hackers know that they do not have strong IT departments with protective measures in place. He told Thill, “A lot of our clients don’t have sophisticated IT departments. These hackers know that, and then they get into the system and passively monitor it and track every move.”

Kenney and Ondo share six ways that contractors can better protect themselves from these attacks ranging from education to software updates to purchasing cyber insurance. See all the tips and read the full article here.