Autodesk has acquired PlanGrid, a provider of construction productivity software, for $875 million net of cash.
This acquisition will help Autodesk offer a more comprehensive, cloud-based construction platform.
“As designing and making converge, Autodesk is connecting project data from design through construction and putting predictive insights into the hands of contractors,” said Andrew Anagnost, Autodesk CEO. “There is a huge opportunity to streamline all aspects of construction through digitization and automation. The acquisition of PlanGrid will accelerate our efforts to improve construction workflows for every stakeholder in the construction process.”
PlanGrid software helps contractors in commercial, heavy civil and other industries work together throughout the construction project lifecycle. PlanGrid software offers real-time collaboration, keeping the field and the office on the same page. The software provides real-time access to project plans, punch lists, project tasks, progress photos, daily field reports and submittals.
“At PlanGrid, we have a relentless focus on empowering construction workers to build as productively as possible,” said Tracy Young, PlanGrid CEO. “One of the first steps to improving construction productivity is the adoption of digital workflows with centralized data. PlanGrid has excelled at building beautiful, simple field collaboration software, while Autodesk has focused on connecting design to construction. Together, we can drive greater productivity and predictability on the jobsite.”
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Autodesk and PlanGrid have developed complementary platforms, which customers can connect to other software applications. The acquisition is expected to expand the integration partner ecosystem, giving customers a customizable platform to test and scale new ways of working.
“This acquisition allows us to do more for general contractors, and we’ve got new growth opportunities with subcontractors and owners,” said Jim Lynch, construction general manager at Autodesk. “ We’ll integrate workflows between PlanGrid’s software and both Autodesk Revit software and the Autodesk BIM 360 construction management platform, for a seamless exchange of information between all project members.”
The transaction is subject to customary closing conditions and is expected to close by the end of January.