Merger and acquisition activity is on the rise among construction technology companies as investment interest in the sector hots up, industry leaders claim.
Speaking at MIPIM Proptech New York, held in partnership with MetaProp, Malorie Brodie, chief executive of contech company Bridgit, said “M&A activity is increasing in contech” as the sector continues to expand.
She listed construction software firm Autodesk as an example of a contech business being bullish in this space, investing more than $1bn in acquiring new companies.
“This space has become much more competitive,” she said, because companies are waking up to the benefits of investing in contech.
She added that we should expect to see more “irrational behaviours” from companies when it comes to investing in contech as investors grapple to get into a sector which is in its infancy.
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