autodesk plangrid acquisition

San Rafael, California (December 20, 2018)—Autodesk Inc. has completed the acquisition of PlanGrid, provider of construction productivity software, for $875 million net of cash.Autodesk funded the transaction using a combination of cash on hand and a short-term loan. Autodesk recently announced its intent to acquire PlanGrid, and the transaction is now complete. You can view the video of our conversation below. Autodesk and PlanGrid have developed complementary construction software. Autodesk announced that it has purchased PlanGrid, the San Francisco startup that made the iPad the preferred method of viewing construction drawings, for $875 million. Headquartered in San Francisco and founded in 2011, PlanGrid was acquired by Autodesk in 2018. © 2018 Autodesk, Inc. All rights reserved. The following is a press release from Autodesk announcing plans to acquire San Francisco–based construction software company PlanGrid.. Autodesk has signed a definitive agreement to acquire PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. Learn more at www.plangrid.com. Autodesk's BIM 360 construction management platform connects the people, data and workflows on construction projects by supporting informed decision-making throughout the project lifecycle. LEARN MORE. Young holds a Bachelor of Science degree in Construction Engineering Management from California State University-Sacramento. PlanGrid is used on more than one million projects across commercial, heavy civil and other industries in 90 countries. Thus, the company expects PlanGrid to contribute slightly to revenue and be modestly negative for profitability and cashflows for the fourth quarter of fiscal 2019. Autodesk and PlanGrid have developed complementary construction software. And, we're using PlanGrid to help everyone in the field build off the most current data set. Headquartered in San Francisco and founded in 2011, PlanGrid raised funding from YCombinator, Sequoia Capital, Tenaya Capital and other top venture capital firms. PlanGrid started in 2011 with a simple mission: to make construction paperless. This event is an important milestone, as it accelerates PlanGrid and Autodesk’s joint vision of helping close the construction labor productivity gap with technology. Today, I’m proud to announce and share with you that Autodesk will be acquiring PlanGrid. All other brand names, product names or trademarks belong to their respective holders. By combining our capabilities, Autodesk and PlanGrid can provide construction customers with immediate benefits and help them prepare for new and innovative ways of working, thanks to technology that improves the design, construction and operations phases.". Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. Beyond Point Solutions: A Unified Data Platform This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding: the impact of the acquisition on Autodesk's guidance issued on November 20, 2018 and business performance; the impact of the transaction on Autodesk's and PlanGrid's products and services capabilities, customers, and partners; and Autodesk's plans to improve construction workflows. Introducing Autodesk Construction Cloud. PlanGrid remains deeply committed to investing in our platform to help builders build better, a commitment and vision that Autodesk shares. PlanGrid. "PlanGrid has excelled at building a product portfolio and go-to-market engine for satisfying the needs of how project teams use critical project documentation to streamline everyday construction tasks," said Andrew Anagnost, Autodesk CEO. Autodesk and PlanGrid have developed complementary construction software. For more information, see the PlanGrid FAQ and video. Video - Autodesk Completes PlanGrid Acquisition. Autodesk, BIM 360 and Revit are registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. Merger and Acquisitions: Autodesk Inc will acquire PlanGrid We couldn’t have gotten here without you. SAN RAFAEL, Calif., Dec. 20, 2018 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) has completed the acquisition of PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. This acquisition will enable Autodesk to offer a more comprehensive, cloud-based construction platform. Over time, customers of PlanGrid and other Autodesk products will see a much tighter integration between the software solutions, which will drive increased value for our customers. Autodesk CEO Andrew Anagnost and I recently sat down to talk about our combined future. Andrew and Tracy explain how the acquisition benefits customers and how the two companies plan to integrate, then discuss their shared vision for the future of construction productivity. Autodesk Build is an amalgam of the features and functionality of BIM 360 and PlanGrid designed for field and project management, the company said in a statement. There are currently no plans to increase PlanGrid’s price or change the way PlanGrid is sold. PlanGrid is used on more than 1.5 million projects across commercial, heavy civil and other industries in 100+ countries. About PlanGrid While our software is just... How to Create Superior As-Builts and Wow Clients Most of us can barely remember what we had for breakfast on Tuesday, let alone what we did on a work project back in 2014. For more information, visit Autodesk. Carry that back a few more years or decades... Over time, customers of PlanGrid and other Autodesk products will see a much tighter integration between the software solutions, which will drive increased value for our customers. The price of the transaction was $875 million. Visit us at www.plangrid.com. Pype marks Autodesk's fourth construction-based acquisition in recent years, joining the acquisitions of Assemble in July 2018, PlanGrid in December 2018 and BuildingConnected in … Autodesk recently announced its intent to acquire PlanGrid, and the transaction is now complete. Since launching Autodesk Construction Cloud™, we have been rolling out updates across our product solutions. Autodesk. And we remain committed to, interoperability with other critical construction, 5 New PlanGrid Product Enhancements for RFIs, Submittals, and More, The Big 5 Dubai: Constructing a World Class Trade Show, 3 PlanGrid Product Updates to Kick Off 2020, 6 Next Level Strategies to Improve As-Builts, 10 Must-Read Building and Design Articles from January 2020. As the acquisition closed on December 19, 2018, only a partial quarter of PlanGrid's financial results will be reflected in Autodesk's fourth quarter of fiscal 2019, ending January 31, 2019. On behalf of everyone at PlanGrid, thank you for your support, trust and business. Pype marks Autodesk's fourth construction-based acquisition in recent years, joining the acquisitions of Assemble in July 2018, PlanGrid in December 2018 and BuildingConnected in January 2019. PlanGrid is a mobile-first, field collaboration software, which gives contractors, owners, and architects unprecedented access to information in real-time, facilitates effective collaboration, and provides actionable insights that improve predictability on the jobsite. As always, please do not hesitate to reach out to us with any questions you may have over the coming weeks. Autodesk gives you the power to make anything. Autodesk Completes PlanGrid Acquisition to Accelerate Construction Productivity Autodesk and PlanGrid have developed complementary construction software. Autodesk’s Construction General Manager Jim Lynch said that this acquisition allows the company to do more for general contractors and the company has new growth opportunities with subcontractors and owners. Tracy Young is the co-founder and CEO at PlanGrid, the leader in construction productivity software, where she oversees the corporate direction and strategy of the company, focusing on leadership, innovation, and customers. SAN RAFAEL, Calif., Nov. 20, 2018 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) has signed a definitive agreement to acquire PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. Autodesk, Inc. based in San Rafael says it has signed a definitive agreement to acquire PlanGrid, a provider of construction productivity software, for $875 million net of cash.“This acquisition will enable Autodesk to offer a more comprehensive, cloud-based construction platform,” the company says in a statement. Autodesk funded the transaction using a combination of cash on hand and a short-term loan. Using BIM 360 has made our project planning better; we're able to reliably plan, forecast and measure project tasks that support lean construction practices and reduce waste. And we remain committed to interoperability with other critical construction technology. That's why we chose BIM 360 and PlanGrid to help us digitize every step of the construction process to accelerate project delivery, reduce risk and increase productivity. Inclusive of the transaction, the company is maintaining its free cash flow goal for fiscal 2020. "We're excited about this acquisition because it will improve the way information can be shared on projects, and that leads to greater productivity and predictability. For fiscal year 2020, Autodesk expects PlanGrid to contribute approximately $100 million in ARR and be slightly dilutive to profitability and cash flow. Autodesk announced plans to acquire PlanGrid for $875 million today. Factors that could cause actual results to differ materially include the following: Autodesk's ability to successfully integrate PlanGrid's business; costs related to the acquisition; whether the construction industry grows as anticipated; the competitive environment in the construction industry and competitive responses to the acquisition; Autodesk and PlanGrid's success developing new products or modifying existing products and the degree to which these gain market acceptance; general market and business conditions; and unanticipated impact of accounting for acquisitions. Bob Clark, Clayco founder and CEO, said, "When a construction site relies on paper-based processes, they risk having outdated documents that could result in delays. Autodesk and PlanGrid have developed complementary construction software. Autodesk funded the transaction using a combination of cash on hand and a short-term loan. Autodesk and PlanGrid have developed complementary construction integration ecosystems to which customers can connect other software applications. Watch the video below for a message from Autodesk CEO, Andrew Anagnost, and PlanGrid CEO, Tracy Young. This event is an important milestone, as it accelerates PlanGrid and Autodesk’s joint vision of helping close the construction labor productivity gap with technology. About AutodeskAutodesk makes software for people who make things. 20 DEC 2018. With PlanGrid, any construction team member can manage and update blueprints, specs, photos, RFIs, field reports, punch lists and other information from any device. There are currently no plans to increase PlanGrid’s price or change the way PlanGrid is sold. Our mission has always been to build simple, beautiful … The San Francisco startup helped move blueprints from paper to the iPad when it launched in 2011. Young founded PlanGrid with Ralph Gootee, Ryan Sutton-Gee, Antoine Hersen, and Kenny Stone in the fall of 2011. PlanGrid software lets general contractors, subcontractors and owners in commercial, heavy civil and other industries benefit from real-time access to project plans, punch lists, project tasks, progress photos, daily field reports, submittals and more. We cannot wait to invent and build more powerful tools for you and your project teams so you can focus on your real work — building. Today, Autodesk also announced its intent to acquire BuildingConnected. PlanGrid Acquisition The company also completed the acquisition of PlanGrid, a provider of construction productivity software, for $875 million net of cash. In the immediate future, it is business as usual; you will see no change in PlanGrid’s product, service offerings or customer support. SAN RAFAEL, Calif., Dec. 20, 2018 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) has completed the acquisition of PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. PlanGrid builds simple, powerful software construction teams love to use. Autodesk Completes PlanGrid Acquisition: Autodesk, Inc. (NASDAQ: ADSK) has completed the acquisition of PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. The PlanGrid acquisition is the largest ever by Autodesk, emphasizing just how important the mission of digitizing construction is to Autodesk as an organization. On Dec 20, 2018 the acquisition was completed. About Autodesk Autodesk makes software for people who make things. DPR Construction is a commercial general contractor specializing in highly complex and sustainable projects. November 17-20 ... PlanGrid is the first construction productivity software that allows contractors and owners in commercial, heavy civil, and other industries to work and collaborate from anywhere Autodesk Inc has closed its previously announced acquisition of San Francisco-based PlanGrid, a provider of construction productivity software. Autodesk funded the transaction using a combination of cash on hand and a short-term loan. "One of the biggest challenges in the construction industry is data flow – how you get the most current and accurate information to the right people, at the right time," said Atul Khanzode, chief technology officer, DPR Construction. Join our FREE global digital conference . Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. PlanGrid will enable Autodesk to offer a more comprehensive suite of cloud-based construction products that connects the office, trailer and jobsite. If you've ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you've experienced what millions of Autodesk customers are doing with our software. Autodesk plans to integrate workflows between PlanGrid's software and both Autodesk Revit and Autodesk BIM 360 for a seamless exchange of information between all project members. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Annual Report on Form 10-K for the fiscal year ended January 31, 2018 and Quarterly Reports on Form 10-Q for the fiscal quarters ended April 30, 2018, July 31, 2018, and October 31, 2018, which are on file with the U.S. Securities and Exchange Commission. This acquisition brings two complementary offerings under one roof, so I'm excited to see how Autodesk and PlanGrid will work together to encourage collaboration between the project team and owners from the time a building is conceived, all the way through to handover.". As a valued PlanGrid customer, you’re probably curious about what this means for you. She likes to joke that she went from working for one superintendent to hundreds of thousands through PlanGrid. Autodesk announced yesterday that it signed a definitive agreement to acquire construction software company PlanGrid for $875 million net … The acquisition is expected to expand the integration partner ecosystem, giving customers a customizable platform to test and scale new ways of working. A: On Nov 20, 2018 Autodesk announced that it signed an agreement to acquire PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. Autodesk funded the transaction using a combination of cash on hand and a short-term loan. Prior to founding PlanGrid, Young helped build several hospitals as a construction engineer. The company's mobile-first technology gives general contractors, subcontractors, owners and architects access to information in real-time, enables field collaboration and provides actionable insights. Thank you for being part of our journey. The workflows between PlanGrid’s software, Autodesk Revit, and the Autodesk BIM 360 construction management platform will be integrated. PlanGrid users are currently building many of the world’s top construction projects. Autodesk’s BIM 360 construction management platform connects the people, data and workflows on construction projects by supporting informed decision-making throughout the project lifecycle. For more information, please view this press release. Experience the power of connected construction today. Autodesk and PlanGrid have developed complementary construction software. This includes enhancements to the features and products our field collaboration software users love to use... We’re honored to begin a new decade with an amazing base of passionate and innovative customers. View original content to download multimedia:http://www.prnewswire.com/news-releases/autodesk-completes-plangrid-acquisition-300769312.html, Press: Taylor Long, (541) 231-9695, taylor.long@autodesk.com; Investors: Abhey Lamba, (415) 547-3502, abhey.lamba@autodesk.com, http://www.prnewswire.com/news-releases/autodesk-completes-plangrid-acquisition-300769312.html. "I'm excited to welcome the PlanGrid team and their customers to the Autodesk family. 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