California-based software company Autodesk, Inc. has complied to purchase construction productivity software company PlanGrid for $875 million net of cash.
Autodesk said that the acquisition allows it to do more for general contractors and the company has got new growth opportunities with subcontractors and owners. This deal will also enable it to offer a more comprehensive, cloud-based construction platform.
The company plans to 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 move is expected to expand the integration partner ecosystem, giving customers a customizable platform to test and scale new ways of working. The transaction is subject to customary closing conditions and is expected to close during Autodesk’s fourth quarter of fiscal 2019, ending January 31, 2019.