MSUITE, a US-based construction tech startup, announced this week that it has been acquired by Stanley Black & Decker – the world’s largest tool company.
Founded in 2015, MSUITE was created to make tracking, managing, and sharing construction data easier and more accurate.
The company has created a cloud-based suite of management software tools that connects construction teams, allowing them to receive real-time status updates, and valuable tracking and estimating information.
“The acquisition reflects the growing strategic importance of MSUITE’s software solutions in the construction technology space,” wrote MSUITE in a release.
“Together, Stanley Black & Decker and MSUITE’s growing team and customer base of 200+ companies across North America will now have expanded capabilities, broadened talent depth and technology to reinvent the industry.”
Stanley Black & Decker and MSUITE have worked together closely since 2020 when MSUITE raised a $4m (£3.2m) seed round from Next Level Ventures and Stanley Ventures, Stanley Black & Decker‘s corporate venture arm.
Britton Langdon, the Founder & Chief Executive Officer of the company, will continue to lead the MSUITE team as Vice President of Construction Technology for Stanley Black & Decker.
Terms of the acquisition were not disclosed.
Image credit: sutlafk/Shutterstock
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