Autodesk on Tuesday announced plans to acquire the construction software firm PlanGrid for $875 million net of cash. The deal is Autodesk's largest acquisition to date.
PlanGrid's software helps general contractors, subcontractors and owners in commercial, heavy civil and other industries collaborate in real time on projects. It gives users access to project plans, punch lists, project tasks, progress photos, daily field reports, submittals and other features. More than 12,000 worldwide customers have used the mobile-first platform on more than one million construction projects.
The acquisition should help Autodesk expand its presence in the construction industry, which represents a $12 trillion market opportunity, according to McKinsey. Autodesk plans to integrate workflows between PlanGrid's software and both Autodesk Revit software and the Autodesk BIM 360 construction management platform. Additionally, PlanGrid has a third-party ecosystem that's complementary to Autodesk's.
"There is a huge opportunity to streamline all aspects of construction through digitization and automation," Autodesk CEO Andrew Anagnost said in a statement. "The acquisition of PlanGrid will accelerate our efforts to improve construction workflows for every stakeholder in the construction process."
The deal is expected to close during Autodesk's fourth quarter of fiscal 2019, ending January 31, 2019.
Best Black Friday 2018 deals:
- Amazon Seven Days of Black Friday Deals: All-time lows on office devices
- Amazon Black Friday 2018 deals: See early sales on Echo, Fire HD
- Best Buy Black Friday 2018 deals: Deep discounts on Apple Mac, Microsoft Surface
- Costco Black Friday 2018 deals: $250 iPad, $200 laptops
- Staples Black Friday 2018 deals: PC sales include $150 Chromebook
- Target Black Friday 2018 deals: $250 iPad mini 4, $120 Chromebook
- BJs Black Friday 2018 deals: Laptop, desktop, and tablet sales galore
- Walmart Black Friday 2018 deals: $99 Chromebook, $89 Windows 2-in-1
- Dell Black Friday 2018 deals: $120 Inspiron laptop, $500 gaming desktop
- Jet Black Friday 2018 deals: $195 Roomba, $70 off Nest Cam Indoor
- Newegg Black Friday 2018 deals: $50 off Moto G6, $70 off Nest thermostat
- Office Depot Black Friday 2018 deals: $300 off Lenovo Flex, $129 HP Chromebook
- Sam's Club Black Friday 2018 deals: Buy a 4K TV and get a free Xbox One S
- eBay Black Friday 2018 deals: See early sales on Galaxy Watch, Chromecast
- Lenovo Black Friday 2018 deals: ThinkPad laptops and more
- Microsoft Store Black Friday 2018 deals: Ad showcases Surface, laptop deals
- Google Store Black Friday 2018 deals: Home Hub, Pixel 3, and Pixelbook
- HP Black Friday 2018 deals: Pavilion laptops, desktops
- Windows laptops Black Friday deals: Dell, HP, Lenovo
- Chromebook Black Friday 2018 deals: Dell, Google, HP
- Best tablet Black Friday deals: Apple iPad, Amazon Fire
- Black Friday 2018 iPhone deals: $400 iPhone X gift card, BOGO iPhone XR
- Black Friday 2018 smartphone deals: OnePlus 6T, LG G7