Builders FirstSource Acquires Apollo Software Assets
DALLAS, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Builders FirstSource, Inc. (NYSE: BLDR) (“Builders FirstSource” or the “Company”), today announced it acquired Apollo software assets from construction technology startup Katerra in an approximately $4.5 million transaction. The Apollo platform provides design collaboration and workflow, construction budgeting and scheduling, and field task assignment with mobile functionality. The acquisition aligns with Builders FirstSource’s digital strategy to address inefficiencies in the home building process and complements the Company’s recent acquisition of WTS Paradigm, LLC (“Paradigm”).
“We are well-positioned to lead the digital transformation in home construction, which significantly lags behind other industries in the application of technology to drive efficiency,” said Dave Flitman, President and CEO of Builders FirstSource. “Our digital strategy focuses on how we can make our customers’ businesses better by shortening project timelines and reducing waste. The Paradigm acquisition provided the Company with a critical entry point and the ability to be a leader in whole-house design. The Apollo software builds upon that foundation, providing features and functionality that will help us streamline the construction process. We look forward to leading the construction industry into a new age of technological innovation and efficiency.”
About Builders FirstSource
Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products. We operate in 39 states with approximately 550 locations and service customers in 84 of the top 100 Metropolitan Statistical Areas, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (certain of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other building products. For more information about Builders FirstSource, visit the Company’s website at www.bldr.com.
Statements in this news release and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about expected market share gains, forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, synergies, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. As with the forward-looking statements included in this release, these forward-looking statements are by nature inherently uncertain, and actual results may differ materially as a result of many factors. All forward-looking statements are based upon information available to Builders FirstSource, Inc. on the date this release was submitted. Builders FirstSource, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the recent novel coronavirus disease 2019 (also known as “COVID-19”) pandemic, the Company’s merger with BMC and other acquisitions, the Company’s growth strategies or the Company’s revenues and operating results being highly dependent on, among other things, the homebuilding industry, lumber prices and the economy. Builders FirstSource, Inc. may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Builders FirstSource, Inc.’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and in the other reports filed by the Company with the SEC. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.
SVP, Investor Relations
Builders FirstSource, Inc.
ICR for Builders FirstSource
Source: Builders FirstSource, Inc.