Autodesk buys PlanGrid for $875m

Autodesk has announced its plan to acquire the San Francisco-based startup PlanGrid that first brought blueprints to the iPad back for $875m.

PlanGrid's software allows general contractors, subcontractors and owners to collaborate in real-time to keep workers in the field and those in the office on the same page. Builders can use the company's software to access project plans, tasks and photos of their job sites in real-time.

Autodesk's CEO Andrew Anagnost explained how acquiring PlanGrid will help accelerate its efforts to digitize and automate the construction process in a statement announcing the deal, saying:

“As designing and making converge, Autodesk is connecting project data from design through construction and putting predictive insights into the hands of contractors. 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.”

Accelerating digital transformation

When PlanGrid's CEO and Co-Founder Tracy Young first started the company back in 2011, her idea to move paper blueprints to the cloud and display them on iPads was quite radical.

The enterprise had not yet begun its digital transformation journey and Apple's iPad was still considered a consumer device for entertainment and not the laptop alternative the company pitches it as now.

Today PlanGrid has 400 employees, 12,000 customers and 120,000 paid users that use its software on over a million construction projects worldwide.

By combining the company's field collaboration software with Autodesk's products, they can provide customers with a complete construction solution.

The deal is expected to close at the end of January following regulatory approval.

Via TechCrunch