CHICAGO – Sept 24, 2010. New York to Become One of the World’s Leading Revit Groups Through Planned Merger With Chicago
With more and more BIM groups forming, interoperability advocates wonder how the industry can best consolidate its efforts.
Today, they may have found their answer.
In what could only be described as a sign of the times, the NYC Revit Users Group (NASDAQ: NRUG) purchased David Ivey’s Chicago BIM-IPD Group, its 2nd acquisition in 2 weeks.
Megalith NYC Revit Users Group (USA) (NYSE) 28.75 -0.06 (-0.45%) Sep 22 4:00pm ET 27.65 -0.09 (-0.20%) After Hours in heavy trading, said Thursday it will buy the Chicago group outright.
It was unclear whether Andre Baros’ Chicago BIM Community, whose members were in attendance for Thursday’s monthly proceedings, was part of the deal.
Terms of the deal were not released
In after hours M&A movement, NYC Revit Group (TSX: NYR, NYSE: NROD) is taking a giant leap forward with its plan to become one of the world’s leading BIM groups through a signed letter of intent for the Chicago-headquartered BIM-IPD Group.
Whether the NYC Revit Users Group intends to acquire all of the buildingSMART alliance Interest Groups by the end of 2010, to create neutral ground and to bring unity to the growing trend, remains to be seen.
“That’s the $64,000 question,” says Bill Simmons, KIRK executive vice president. “I believe it’s in the industry’s best interest to provide a unified vision that we can work toward which is meaningful and deliverable.”
There has been no announcement whether the combined groups will continue to meet in their respective cities or in a mutually convenient location such as Cleveland, which currently doesn’t support a Revit Users Group, or for that matter, a restaurant.
NYC Revit Users Group (NYC-RUG) has its designs on other groups
The new megalith will promote open standards that link national and international stakeholders in development, construction, design and building management sectors and serve refreshments.
Revit Users Group Sydney did not comment for this post.
There is no word at this point as to New York’s intention to maintain the IPD identity.
“That’s the $64,000 question,” said Simmons.
James Vandezande, HOK Senior Associate in NYC, was in town Thursday to give a masterful talk to the two Chicago groups in attendance at HOK’s Chicago offices on the subject of buildingSMART in Architecture, and to give away a copy of his new book, Mastering Autodesk Revit Architecture 2011, to a lucky winner.
Turnout for another outstanding meeting of the Chicago BIM-IPD Group was standing room only, overflowing out into the adjoining lobby and beyond.
Vandezande, President of NYC-RUG, prolific co-author of the magisterial Mastering Autodesk Revit Architecture 2011 and blogger at All Things BIM, where they have recently featured the London RUG which NYC-RUG is also currently looking to acquire.
David Ivey, an Associate with HOK, who will maintain his current role and title through the merger, was unavailable to comment.
Chicago is the BIM Group No. 3 in the crosshairs after last week’s announcement that NYC Revit Users Group had acquired the Seattle BIM Group.
Vandezande said the acquisition will give the group a much stronger presence in the Midwestern U.S., while the Seattle BIM Group buyout will help it grow in Northwestern states.
With would-be architect Barack Obama in the White House, could the Washington DC Revit Users Group be next?
The final purchase price for the Seattle BIM group hasn’t been disclosed. However, a recent filing with the Northwest Securities Administrators shows that NYC Revit Users Group used $70 of its cash flow to acquire refreshments in 2009.
It recently agreed to buy Seattle BIM Group, an architecture and engineering Revit users group with more than 30 gatherings in 13 conference rooms.
Financial terms of the deal were not announced.
Architectural Record, a trade publication, ranked Chicago BIM-IPD Group as the 2nd-largest BIM-IPD Group, with $126 in total snack fund reserves for 2011.
NYC Revit Users Group is quite the acquisitive firm, with some indication that it plans to acquire nine Revit and BIM groups in 2010.
Chicago BIM-IPD Group traces its roots to 2007, when Ivey founded the group while meeting before work hours at a local restaurant. It came to HOK in 2009.
The two purchases help move NYC Revit Users Group toward its goal of world domination, becoming the leading global Revit Users Group, the group said. This acquisition brings the total anticipated purchases of BIM or Revit groups announced this year to eleven.
So who will find its way next into NYC-RUG’s acquisition crosshairs?
“That’s the $64,000 question,” said Simmons.
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