Swedish software developer Hoylu AB on April 27 announced the $800,000 acquisition of the Huddlewall interactive large-format display business from its U.S. partner Scalable Display Technologies Inc.
Scalable Display, the Cambridge, Mass.-based software and services provider has gained recognition in the construction industry with the Huddlewall, a large, modular interactive display onto which images are projected using multiple scalable HD Laser projectors. The scalable display facilitates workstation performance such as reviewing CAD files, editing blueprints, running web applications for lean planning or annotating brainstorming sessions with pen-based interaction.
The Huddlewall is gaining recognition in the industry as one of many interactive large-format display products emerging in the world of immersive visualization, including the Microsoft Surface Hub and the Google Jamboard, which offer interactivity, high-resolution and some personal computing functionality. The day after announcing the acquisition, Hoylu announced that Boston-based general contractor Suffolk Construction ordered seven Huddlewalls that will be delivered by the second quarter of 2017.
"Suffolk`s vision is to transform the construction experience by building smart," said Chris Mayer, Suffolk's chief innovation officer. "By adding sophisticated new tools and technologies such as the Huddlewall to our toolbox, we will be able to manage our projects with more efficiencies, provide clients a more predictable and enjoyable experience, and revolutionize our industry."
Andrew Jamison, Scalable chief executive officer for the past decade, has assumed the role of vice president of U.S. sales at Hoylu.
"Many construction companies have tried using smart boards to help facilitate team collaboration, but run into software limitations,” Jamison said. “The Huddlewall runs all the applications that AEC firms typically use, such as Touchplan.io, Synchro or Navis-works, tools they can now use on a huge display in a big room."
Scalable Display has been a reseller of Hoylu software suite with their packaged Huddlewall, the Nasdaq statement said. The purpose of the acquisition is to include the Huddlewall in Hoylu's portfolio of immersive room solutions and collaboration and smart office solutions.
Hoylu plans to issue a convertible note of US$300,000 to the sellers with the option to convert at latest on Dec. 31 at 6 SEK (Swedish Krona) per Hoylu share, according to the April 27 Nasdaq Globe Newswire. In addition, the sellers will receive an earn-out based upon actual Huddlewall sales in 2017.
As part of its market strategy, Hoylu's is forming a sales team in Boston. Since the acquisition, Jamison is joined from Scalable by Zach Hurvitz, Hoylu director or sales, Samuel Pietsch and Nathaniel Pierce.
Hoylu Chief Executive Officer Stein Revelsby said “This acquisition is a natural consolidation of a business that is already a part of our value chain. By including this award-winning flagship product in our portfolio, we can easier meet the growing demand, shorten lead times and work directly with our largest customers to deliver total solutions.”
Hoylu’s main area of interest is software for creative collaboration, combined with intuitive input and display technologies, the Nasdaq statement noted. This includes technologies for remote collaboration, Internet of Things, and for connecting workspaces in different locations together, with the objective of simplifying work processes while improving productivity and creativity.