Indian and Silicon Valley Companies Merge to Advance Technological Innovation in Off-site Construction Industry
Indian offsite infrastructure manufacturing company, KEF Infra, recently announced a strategic merger with Katerra, the Menlo Park US-based technology company, revolutionizing the design and construction industries. This partnership will expand their geographic reach, manufacturing capacity, and market expertise. The merged company already has more than $3.7 billion in bookings at this time across North America and India.
Faizal Kottikollon, Founder, and Chairman of KEF Infra, on the merger, said, “I am very excited by the prospects of this strategic alliance. We look forward to breaking new ground with a like-minded team.” Similarly, Michael Marks, Chairman, and Co-founder of Katerra said, “We are thrilled to merge with KEF Infra, a company that is truly a disrupter. It’s incredible to discover a team so aligned with our values and vision.”
Katerra was co-founded by Michael Marks who serves as its Chairman and CEO. It operates globally, with two factories and 2,000 employees worldwide with a turnover of USD 1.1 Billion. Katerra was most recently valued at USD 3 Billion, and investors include Softbank, Foxconn, and Canada Pension Plan Investment Board.
These companies employ a vertically integrated model, offering end-to-end building services enhanced by offsite manufacturing and enterprise technology. This partnership will now help build KEF Katerra’s in-house execution team which will reduce our on-site challenges on a project. Katerra is a pioneer in multi-family housing design, build and delivery. There is a tremendous potential for replicating their model to other regions of India, which will be key geographies for the KEF Katerra expansion. In addition to addressing housing needs, KEF Katerra will be actively engaged in building critical infrastructure such as hospitals and schools across India.
Katerra as of now employs more than 2,000 people with operational factories in Greater Phoenix, Arizona, Glendale, Arizona and Shanghai, China. After the merger is complete in Q3 2018, the company will have over 3,400 employees, with a global footprint of 20 locations in the United States, China, India, and Mexico.