Textura (NYSE: TXTR) acquires Latista - for $35 million cash

We first mentioned Textura on Repro 101 back in June, just before Textura went public.  Textura’s shares were sold at $15.00 in the IPO, and, since then, Textura’s shares have traded as high as $47.25, but, recently, Textura’s shares have come back closer to earth – trading today at around $33.00.  On November 21^st, Textura will report its latest quarterly financial results.  Textura has yet to generate a profit.

About Textura’s acquisition of Latista, well, sometimes a good idea to acquire sales, helps to prop up the numbers.  However, the Press Release that announced Textura’s acquisition did not disclose Latista’s revenues, only the price ($35 million, cash) that Textura agreed to pay for Latista.

About Latista…..

The Press Release says this:

LATISTA has developed unique expertise around mobile applications in construction. Their modules handle mission critical construction workflows, including quality management, punch lists, safety, electronic commissioning, and document management, including managing project specific plans and drawings. Soon-to-come, LATISTA will introduce support for Building Information Models (BIM), right in the field.

Under the “solutions” tab on its web-site, Latista says this:

Our document management solution reduces your dependence on paper.

Users in the field and at the office access a master set of drawings and plans, ensuring one version of the truth across your project. Provide secure access to a central repository. Markup and annotate drawings, plans, and other documents. Push documents to the field for off line access on mobile devices. Easily find documents by linking them with equipment and areas.  Manage your library of documents in the cloud to easily share access and ensure everyone is working off the most current specifications.

Digitally replicate paper forms

Mark-up photos and PDFs

Manage issues with layered mark-ups

Render your PDFs faster

Publish revisions to entire team 

Control who can access which documents

Archive documents to streamline turnover

Sync documents on demand to mobile device

Sync documents in the background

Update: For more on Textura’s acquisition of Latista, click on this link:

http://www.constructech.com/news/articles/article.aspx?article_id=9857