Bluebeam Software Acquired For $100M

Pasadena-based software developer Bluebeam Software has been acquired by German software company Nemetschek AG, the two said late Friday. According to the two, Nemetschek will pay $100M for BlueBeam, which is a developer of PDF software used for architecture, engineering, and construction. Bluebeam Software was led by Richard Lee. Nemetschek said the deal will help it reinforce its market presence in North America, and will expand Bluebeam's access to European and Asian markets. The companies said that Bluebeam will continue with its current management team, operating as an independent brand company. Bluebeam was a spun out of Alliance Spacesystems, and has received investments from both the Pasadena Angels and Tech Coast Angels.