Construction software firm PlanGrid bought by Autodesk for US$875M
November 21, 2018 by David Kennedy
SAN RAFAEL, Calif.—Autodesk Inc., an American software firm that caters mainly to the architecture, engineering and entertainment industries is expanding its reach into construction by snapping up PlanGrid, a fast-growing construction software firm used by contractors, subtrades and owners.
Worth US$875 million, Autodesk said the deal will allow it to offer a more comprehensive cloud-based construction platform. It plans to integrate PlanGrid’s technology for increasing job site productivity by connecting the separate stakeholders on a construction project into its own complementary applications.
“There is a huge opportunity to streamline all aspects of construction through digitization and automation,” Andrew Anagnost, Autodesk’s CEO, said in a statement. “The acquisition of PlanGrid will accelerate our efforts to improve construction workflows for every stakeholder in the construction process.”
PlanGrid’s software gives general contractors, subcontractors and owners real-time access to vital work site information such as project plans, punch lists, tasks, progress photos and daily field reports. Its main goal is to centralize data storage and make it accessible to the entire build team.
Since its founding in 2011, the company has gained a significant following. It’s used on thousands of job sites in 90 countries.
The acquisition remains subject to the customary approvals, but is expected to close before the end of January.