Earlier this year, Rendra AS became part of the JDM Technology Group, a global group of leading software companies for the architecture, engineering and construction industries. We spoke with David McFarlane, the Vice President of Corporate Development, to get to know more about our new owners.
Tell us about the ownership philosophy of JDM Technology Group?
The JDM Technology Group is a private, family company, with a long-term outlook. Our ownership philosophy is to “buy and build” great software companies. In short, we help people. It is our goal to provide our customers with the best software and service in the industry and help them to grow their businesses and maximize their profitability. With no outside capital in our businesses, we think long-term. We do not end of life any products.
How are software markets changing in the construction industry?
Software is helping to improve productivity and efficiency through the digitization of the construction industry. With collaboration software, project management software, ERP software and more, contractors and owners are now gaining better insight into their projects, collecting better data that allows them to make better business decisions. Software is also bridging the gap from the pre-construction design phase, through the construction phase, and into the post-construction manage phase. Specifically, the use of BIM has been a catalyst connecting these phases. A project manager can view design details from the jobsite in the BIM model that were added by the architect, and at handover, the owner can receive a digital twin of the completed project, rich with data from the design and construction phases, that can be used for ongoing facility maintenance and asset management.
How did you discover StreamBIM and what were the features of software that sparked your interest?
The JDM Technology Group searches for software businesses globally. We came across Rendra and StreamBIM while doing a deep dive into BIM software in the Nordics. One of the major differentiators of the software, that it can stream very large, complex BIM models to mobile devices, is a benefit that sets StreamBIM apart from their competitors. This combined with ease-of-use, the collaboration capabilities, flexibility of the software, and mobile functionality, peaked our interest to take the discovery further.
Why did you acquire Rendra AS?
We acquired Rendra AS because of its use and application to all phases of the project, from design to build to manage, and technology. When we met with StreamBIM customers, they validated the benefits of using StreamBIM, easily tracking the progress of the project from the jobsite tied to the BIM model, to resolving issues and disputes quickly and efficiently through collaboration between project teams. We saw the opportunity to not only grow Rendra globally as a standalone business, but also as a solution that could be utilized in our other businesses.
How does StreamBIM software fit into the global portfolio of software offerings from JDM Technology Group?
StreamBIM is a great fit within our existing global portfolio of companies. It is our goal to have an end-to-end suite of tools and products, for architects, engineers, contractors and owners, that meets the needs of the entire lifecycle of the construction project. StreamBIM can be utilized throughout the lifecycle of the project, as a standalone solution, or integrated with other products in our portfolio, whether that be linking to financial data from our ERP systems, to creating a maintenance request or viewing an asset’s information and history linked to our maintenance software. We’ve seen the increased adoption of BIM worldwide, and through our own global customer base, and StreamBIM is a natural fit as the construction industry becomes increasingly digitized.