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News & opinion

4 APR 2018

The rise of new industries through disruptive technology

Disruptive technology displaces an established technology and shakes up the industry, or is so ground-breaking that it creates an entirely new one. As US firms are acquiring Australian construction technology companies, we look at the current market for property technology (PropTech).

Melbourne-based technology firm QA Software was acquired by US construction project management software firm InEight. The US firm hopes it will help it to grow in the local market, while beginning to sell QA’s product globally.

QA Software offers document management solutions for engineering and construction projects, and has been a stalwart of the local technology scene for 23 years.

The week prior, Oracle’s A$1.6bn buyout of ASX-listed Aconex was finalised. Aconex is the most widely used online collaboration platform in the world for construction, infrastructure, and energy and resources projects.