SAN RAFAEL, CALIF. — U.S.-based Autodesk Inc. has signed an agreement to acquire PlanGrid, a U.S. provider of construction productivity software, for US$875 million.
A Nov. 20 statement said the acquisition will enable Autodesk to offer a “more comprehensive, cloud-based construction platform.”
The release said PlanGrid software lets general contractors, subcontractors and owners in commercial, heavy civil and other industries work together throughout the construction project life cycle.
“PlanGrid software offers real-time collaboration, keeping the field and the office on the same page. It gives builders real-time access to project plans, punch lists, project tasks, progress photos, daily field reports, submittals and more,” said Autodesk.
“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.”
Jim Lynch, construction general manager at Autodesk, said in the statement, “This acquisition allows us to do more for general contractors, and we’ve got new growth opportunities with subcontractors and owners. 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 during Autodesk’s fourth quarter of fiscal 2019, ending Jan. 31.