LITTLETON — Littleton-based Bristlecone Construction Corp. has been acquired by California startup firm Katerra, according to a Denver Business Journal report.
Bristlecone, which employs about 150, will operate under the Katerra name and expects to double its payroll over the next year.
Katerra, which uses technology to make the building process more efficient, was founded in 2015 and has raised more than $1.2 billion over five rounds of funding, according to the Denver Business Journal report.
“Construction has been done the exact same way for hundreds of years,” Bristlecone CEO Zach Smith told the journal. “To be able to combine an approach of technology and financing from Silicon Valley to local know-how and to local management and craft can combine to become an extreme, powerful force in the Denver construction market.”
Terms of the acquisition were not disclosed.