Monday, November 8, 2021

Procore Completes Levelset Buy

Carpinteria-based Procore Technologies, which develops construction management software, said last week that it has completed its previously announced acquisition of Levelset. Procore paid approximately $500 million, consisting of approximately $425 million in cash, subject to customary adjustments for working capital, transaction expenses, cash and indebtedness, and approximately $75 million in Procore common stock for Levelset. Procore--which trades on the NYSE as PCOR--said the buy will strengthen its position as a provider of construction management software.