Graphisoft, the Budapest, Hungary-based vendor of 3D design software Archicad, has concluded a management buy-out of its Construction Solutions Division, backed by Borealis Ventures, Hanover N.H. The new company, VICO Software, Boulder, Colo., will continue marketing and development of the virtual construction work-flow tools Graphisoft has built around its 3D design product.
Dominic Gallello, Graphisoft CEO, says the offer was accepted because the "time horizon" needed to carry the initiative until the market for its services matures is likely to take several years. "The only challenge is the time it will take for Virtual Construction to go mainstream in large construction companies on a global basis," he says. "Financing of the losses required until the market moves more to the mainstream would be best be done outside of Graphisoft."
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