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ServiceTitan to Empower HVAC Contractors with Acquisition of Conduit Tech

1. ServiceTitan acquires Conduit Tech, enhancing HVAC contractor tools. 2. The acquisition integrates LiDAR technology for innovative sales processes. 3. Conduit's platform boosts contractor efficiency and customer engagement significantly. 4. Transaction expected to close in fiscal Q3 2026. 5. CEO emphasizes data-backed experience for improving sales conversion rates.

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$117.1609/18 05:36 PM EDTEvent Start
$117.1609/19 03:42 AM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition bolsters TTAN's competitive edge in the HVAC software market, similar to past strategic acquisitions that positively influenced stock prices in tech sectors.

How important is it?

The acquisition is pivotal for TTAN’s market positioning, likely driving investor interest and future revenues.

Why Long Term?

The integration and efficiencies from the acquisition are expected to yield revenue growth over several quarters, similar to historical performance trends post-acquisition.

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ADSKNOWCRM
September 18, 2025 17:30 ET  | Source: ServiceTitan LOS ANGELES, Sept. 18, 2025 (GLOBE NEWSWIRE) -- ServiceTitan (Nasdaq: TTAN), the software platform that powers the trades, today announced that it has entered into a definitive agreement to acquire Conduit Tech, an HVAC design and sales platform that leverages next-generation LiDAR technology, to build permit-ready load calculations and drive customer engagement. Through this acquisition, ServiceTitan will integrate Conduit’s sales proposal and enablement tools with its suite of AI automation products, empowering contractors with fast and accurate measurement tools and custom visualizations that deliver both technical accuracy and an exceptional customer experience homeowners can trust. “One of the most powerful ways contractors win business today is by delivering a modern and data-backed experience for home and business owners,” said Ara Mahdessian, CEO and co-founder of ServiceTitan. “Conduit makes that possible by taking the manual work out of assessments and proposals, giving technicians the ability to generate accurate, professional presentations in minutes. That means they can spend more time building relationships with homeowners, leading to stronger sales conversations, higher conversion rates, and better ROI for contractors.” Built specifically for HVAC contractors, Conduit’s LiDAR-powered platform allows technicians to create 3D models, load calculations and visualizations onsite in minutes, providing fast and accurate measurements of a home's interior and potential system designs. This increased efficiency enables technicians to serve more homes per day, present the ideal options to customers and increase revenue potential without adding staff, all while driving stronger sales performance. Conduit’s platform equips HVAC contractors with: Fast and accurate LiDAR scanning so detailed proposals can be created in minutes.Custom visualizations that easily educate homeowners with photo-realistic renderings of HVAC units and system designs.HVAC specific workflows designed for technicians to capture data and incorporate third-party data like local weather requirements.ACCA Certified Manual J HVAC load calculations powered by ACCA Manual J® that are usable for government required permitting processes.Tools to assist in training sales teams so they’re able to quickly elevate their performance and drive stronger business growth with confidence and professionalism. Founded in 2022 by Marisa Reddy and Shelby Breger, Conduit was built for contractors to quickly and profitably design, sell, and install high-efficiency HVAC systems. “Conduit was founded on a mission to empower technicians with the technology they need, and for business owners to set themselves apart from the competition, “ said Marisa Reddy, co-founder of Conduit Tech. “Like ServiceTitan, our team is obsessed with giving contractors the tools they need to build trust, drive revenue, and deliver exceptional service and solutions every day. I look forward to partnering with the ServiceTitan team as we work together to further modernize this critical industry, and make the lives of contractors we work with easier.” Transaction Details The transaction is subject to the satisfaction or waiver of customary closing conditions and is expected to close in ServiceTitan’s fiscal third quarter 2026. About ServiceTitanServiceTitan is the software platform that powers trades businesses. The company’s cloud-based, end-to-end solution gives contractors the tools they need to run and grow their business, manage their back office, and provide a stellar customer experience. By bringing an integrated SaaS platform to an industry historically underserved by technology, ServiceTitan is equipping tradespeople with the technology they need to keep the world running. About ConduitConduit Tech is a LiDAR-powered design and sales platform built for HVAC contractors. Using just an iPad, contractors can scan homes, generate 2D floorplans and 3D models, perform ACCA-certified load calculations, and visualize installations in under 15 minutes. The platform transforms complex designs into professional, customer-friendly reports and AR visualizations that build trust and help close more sales. Press ContactMax WertheimerServiceTitan, Inc.Press@servicetitan.com © 2025 ServiceTitan. All rights reserved. ServiceTitan, the ServiceTitan logo, and all ServiceTitan product and service names mentioned herein are registered trademarks or unregistered trademarks of ServiceTitan, Inc. in the United States and other countries. Other brand names and marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). Forward Looking Statements This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential” “predict,” “project,” “should,” “target,” or “will,” or the negative of these words or other similar terms or expressions that concern ServiceTitan’s expectations, strategy, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding ServiceTitan’s acquisition of Conduit Tech; statements regarding the future performance of ServiceTitan and Conduit Tech; the ability of the transaction to integrate Conduit’s products and features into ServiceTitan’s platform; the anticipated benefits of Conduit, its products, and its features or the anticipated benefits of the transaction for ServiceTitan and its customers; and the timing of any of the foregoing. ServiceTitan’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those projected, including those more fully described under the caption “Risk Factors” in ServiceTitan’s Quarterly Report on Form 10-Q for fiscal second quarter 2025 ended July 31, 2025 as filed with the SEC on September 10, 2025, which should be read in conjunction with this press release. In addition, other factors include, but are not limited to: the expected timing to complete the pending transaction; filings and approvals relating to the pending transaction; and the ability to complete the pending transaction considering the various closing conditions. We cannot assure you that the results, events, and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. Investors are cautioned not to place undue reliance on these statements. The forward-looking statements in this release are based on information available to ServiceTitan and Conduit Tech as of the date hereof, and neither party undertakes any obligation to update any forward-looking statements, except as required by law.

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