Today, Hoylu AB (“Hoylu”), announces that a Letter of Intent has been signed with BIMobject AB (“BIMobject”) The Letter of Intent outlines the agreement between both companies to cooperate on the global architecture, engineering, and construction market in order to create synergies between the parties and their respective solutions.
The Letter of Intent describes the plan to carry out joint marketing activities and to research the integration of the parties’ respective technologies and applications sales. Both companies provide solutions for the global architecture, engineering, and construction industry: Hoylu offers innovative digital tools that allow for creative collaboration between large numbers of team members regardless of their location. BIMobject hosts the world’s largest platform for digital building products: the BIMobject®Cloud, which serves as a Single Source of Truth providing high-quality data to a number of connected applications.
Hoylu and BIMobject deem their respective offerings to complement each other. The parties therefore anticipate a synergy effect to result from joint showcasing and other marketing activities. The parties further intend to create a showroom in Malmö, Sweden, for shared use by both companies. The showroom will combine software and equipment from Hoylu with content as well as AR- and VR-technology provided by BIMobject into an interactive, collaborative space.
There are several connection points between the solutions offered by the two companies. Hoylu and BIMobject share an interest in exploring how the solutions can be used together. Such integration would, for instance, create environments where the user has access to BIMobject content from within a single, interactive workspace provided by Hoylu technology.
Since Hoylu offers applications of potential interest to BIMobject customers, the companies intend to research and evaluate the market in order to create a business model for integrated sales of those applications to users registered in the BIMobject®Cloud.
Each company will carry its own costs and expenses should they arise as a result of the cooperation. The potential revenue of the intended collaboration cannot be estimated at the present time. The Letter of Intent remains in effect until its termination by either party or until formal agreements take its place.
“The collaboration between BIMobject and Hoylu is a perfect extension of our respective businesses and solutions. Both companies are based in Sweden and listed on Nasdaq Stockholm First North, but also operate out of Los Angeles, California. I think both our points of view will enrich that global perspective”, says Stein Revelsby, CEO of Hoylu.
“When two companies like Hoylu and BIMobject join forces, the sky is the limit. Above all, we share a passion for innovation, and I can’t wait to see where that drive will take us”, says Stefan Larsson, CEO and founder of BIMobject.
About BIMobject®
The BIMobject® corporation, acknowledged by investors with a Global Red Herring 100 award, and a public company on Nasdaq Stockholm First North: ticker symbol BIM. BIMobject® is a game changer for the construction industry worldwide with its cloud based digital content management system for BIM objects.
BIMobject as a disruptive technology corporation is at the forefront of the digitalisation of building products and materials, enabling the information to be turned into know-how earlier in the BIM process. The BIMobject® Cloud is a digital platform where BIM professionals can find and download BIM files from brands, from both Europe and US. This will enable industrialisation of the construction industry and also have a huge impact on design, product selection, constructability, waste, energy, cost, quality, and logistics.
BIMobjects unique solutions for building product manufacturers provide development, hosting, maintenance, syndication, and publication of the digital replicas of the manufacturers’ products – BIM objects. The marketing and pre-sales services associated with the BIMobject® Cloud are channelled and integrated, through Apps, into CAD/BIM applications to create a business-to-business communication across the globe.
Manufacturers use BIMobject® to promote and deliver their products directly into BIM processes, enabling their products to be selected and generate a real improvement in sales. For more information visit: bimobject.com
For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com
Hoylu AB
Hoylu delivers solutions for presentation, ideation and collaboration that focus on enhancing the user experience. The company’s main area of interest are products designed for Creative Collaboration for the enterprise, combined with intuitive input and display technologies. 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. For more information: www.hoylu.com or visit www.introduce.se/foretag/hoylu
Ticker symbol: Hoylu
Marketplace: Nasdaq First North Stockholm
Certified Adviser: Remium Nordic AB +46(0)84543200
Publication
This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at (9:00) September 18th 2017.
