In a surprising shift for a traditional tool manufacturer, Stanley X, the innovation division of Stanley Black & Decker, has acquired Buildup, a project management platform used by general contractors and trade workers for punchlists, inspections and other tasks. The value of the acquisition was not disclosed.
The acquisition is the first for the tool maker’s new tech-focused unit. “We’re digitizing things on the construction site,” says Justin Saeheng, head of construction technology at Stanley X. “This acquisition allows us to better align to our current customers and provide more than another hammer, tape measure or drill.”