Autodesk to Acquire PlanGrid, for $875M

autodeskAutodesk, Inc. (NASDAQ: ADSK), is to acquire PlanGrid, a San Francisco, CA-based provider of construction productivity software, for $875m.

The acquisition will enable Autodesk to offer a more comprehensive, cloud-based construction platform. The two companies have developed complementary construction integration ecosystems to which customers can connect other software applications. The deal is expected to expand the integration partner ecosystem, giving customers a customizable platform to test and scale new ways of working.

Led by Tracy Young, CEO, PlanGrid provides a software platform that lets general contractors, subcontractors and owners in commercial, heavy civil and other industries to work together throughout the construction project lifecycle.
The company’s software offers real-time collaboration, keeping the field and the office on the same page and gives builders real-time access to project plans, punch lists, project tasks, progress photos, daily field reports, submittals and more.

The platform is used on more than one million projects across commercial, heavy civil and other industries in 90 countries. Founded in 2011, the company has raised $69m in funding from YCombinator, Sequoia Capital, Tenaya Capital and other top venture capital firms.



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