Software company Accruent buys Evoco

Calgary tech company Evoco has been acquired by U.S. software company Accruent for an undisclosed sum.

Evoco, founded in 1999, provides construction project management software for businesses.

The company, which has approximately 85 employees — all in Calgary — provides its customers with software for all phases of a major construction project, including bidding, change order management, document management, invoicing, and construction and facility inspections.

Evoco counts HomeDepot and fashion and eyewear retail chain Luxxotica among its customers.

Accruent, based in Texas, provides software to more than 1,000 customers, specializing in real estate and facilities management.

With the acquisition, customers of both companies will have access to an expanded suite of software solutions.

“Our company basically triples overnight, so we have a lot more resources,” said Sean Fynn, who co-founded Evoco along with CEO Alice Reimer in 1999. “They (Accruent) are the best, so they bring a lot of top tier customers to augment our customers.”

The integration of Evoco operations into Accruent is expected to be complete during the first quarter of 2013, with key Evoco executives — including Flynn and Reimer — assuming leadership positions in the combined company.

Evoco has also been growing internationally, marketing its software in China, Mexico, Brazil, Argentina, Chile, and Central America. Flynn said plans are in place to grow into South Africa as well as India.

The recognition of Evoco’s products by a major U.S. software company is validation for Calgary’s technology sector, Flynn said.

“Calgary has a healthy tech community that has leaders that come from local universities and grassroots team development. “We have software businesses that have been created here and can compete on the world stage and be recognized as leaders,” he said.

Our company basically triples overnight, so we have a lot more resources SEAN FYNN, EVOCO