In a largely expected move, Dallas-based Hyphen-Solutions, formerly MH2, has confirmed it is looking to sell off the FAST portion of its business.
The group that develops and markets FAST is based in Redmond, Wash., and runs as a separate operating unit within Hyphen-Solutions. The unit markets a full enterprise, resource, and planning application for the building industry. Major components of the software include contracts management, bidding, scheduling, and purchase order and warranty management. The FAST unit has 30 employees and roughly 250 builder customers, which represent between 50,000 to 60,000 starts annually.
At press time, Mark Callin, CEO of Hyphen-Solutions, said the company was looking at a range of alternatives, including maintaining FAST as an internal operating unit but managing it as a separate company with its own business plan and executive staff. Callin did not disclose any financial details, but did say Hyphen-Solutions was looking for a buyer that has a long-term interest in supporting the FAST platform.
Callin said Hyphen-Solutions is selling off FAST so it can concentrate on developing and marketing its BuildPro and Supply products. BuildPro lets builders generate and track schedules through the course of a job and serves as a communication vehicle to distribute purchase orders to field superintendents and suppliers. Supply is Hyphen's job management tool for suppliers and subcontractors.
Although Callin would not disclose any information on the financial health of Hyphen-Solutions, he did say the company had some significant customer wins since it reorganized earlier this year, most notably with Lennar and WCI. Callin also said Hyphen-Solutions had dropped the MH2 brand name.