M&A Newforma Bought a General-Purpose Analytics Engine and Pointed It at RFIs Lumi AI spent three years building a semantic layer over ERPs for F100 enterprises. Newforma acquired it on 21 October, terms undisclosed, and is attaching it to twenty years of AECO project structure — while publishing a three-part standard it has invited the industry to measure it against. Hugo Pegley · Oct 22, 2026
M&A A French Construction AI Company Just Started Trading in Canada. It Didn't IPO. Aitenders began trading on the Canadian Securities Exchange under the ticker BIDS on August 10 — via a reverse takeover of a shell, not a public offering. The distinction matters, and most of the coverage has skipped it. Hugo Pegley · Aug 13, 2026
M&A AECOM Pays $390 Million for an AI That Claims to Automate 90% of Engineering Work The $390 million acquisition of Norwegian AI startup Consigli is the largest AI deal in AEC history — and the first time a major engineering services firm has bought a software startup rather than waiting for someone else to. The industry is still processing what it means. Hugo Pegley · Jun 12, 2026
M&A Nemetschek Acquires HCSS, and the Construction Software Map Gets Redrawn The Munich-based software giant's acquisition of HCSS — the Texas company whose HeavyBid and HeavyJob tools run estimating and project management for thousands of heavy civil contractors — is the largest contech deal of spring 2026. It also changes the competitive landscape in ways that won't become clear for at least 18 months. Hugo Pegley · Jun 12, 2026
M&A Trimble Acquires Document Crunch, Embedding Contract AI Into the Core of Its Construction Suite The April 2026 deal brings AI-powered contract risk analysis into Trimble's Construction One platform — and is the clearest signal yet that contract intelligence is becoming table stakes for construction software incumbents. Hugo Pegley · Jun 12, 2026
