PROCORE TECHNOLOGIES, INC. acquires Esticom, Inc.

PROCORE TECHNOLOGIES, INC. acquired Esticom, Inc. for approximately $15.1 million, a transaction completed in October 2020, structured as combination (cash and stock).

Esticom, Inc. operates in Preconstruction / estimating. Esticom provides an estimating solution which enables contractors to determine the quantities of materials needed from project plans and specifications, and calculate the cost estimates for the labor hours and materials required on a job. Per the FY2021 10-K, Procore acquired 100% of the outstanding voting interests of Esticom on October 14, 2020 for total purchase consideration of $15.1 million ($11.2 million cash and $3.9 million in common stock, 96,749 shares).

The purpose of this acquisition is to accelerate the development of the Company's preconstruction solutions.

Cloud-based estimating capability to expand into preconstruction. Built into Procore's preconstruction/estimating offering.

On October 14, 2020, the Company acquired 100% of the outstanding voting interests of Esticom, Inc. (“Esticom”), a company that provides an estimating solution which enables contractors to determine the quantities of materials needed from project plans and specifications, and calculate the cost estimates for the labor hours and materials required on a job.Procore Technologies, FY2021 10-K, Business Combinations note

Advisory firms were not disclosed for this transaction.

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