A merger has been announced involving iSqFt, based in Cincinnati, and Denver-based Northstar Exchange Corp., also known as Construction Information Network
A merger has been announced involving iSqFt, based in Cincinnati, and Denver-based Northstar Exchange Corp., also known as Construction Information Network or Construction News Service. Headquarters for the combined entities will be located in Cincinnati. iSqFt Chief Executive Officer Dave Conway will serve as president/CEO and chairman of the board of the newly formed company, with Northstar CEO Tim O’Crowley remaining as vice chairman of the board.
The merger is expected by both parties to position the combined entity as the nation’s leading provider of online preconstruction management services to the commercial construction industry. Additionally, Conway notes, We expect that this merger will allow us to expose customers to a greater number of subcontractors, while giving our subcontractor customers additional opportunities to find both public and private work. This merger also supports our objective of strengthening relationships with local partners, such as Associated General Contractors chapters, by helping to increase their market leadership.
Local market operations for the companies will function as usual for the foreseeable future, providing existing iSqFt and Northstar customers with established products and services. On a combined basis, the firms currently support over 10,000 subscribers and 300,000 users nationwide. The merger is expected to close in the second quarter of 2006.