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. With PlanGrid, any construction team member can manage and update blueprints, specs, photos, RFIs, field reports, punch lists and other information from any device. "I'm excited to welcome the PlanGrid team and their customers to the Autodesk family. 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. "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. As a valued PlanGrid customer, you’re probably curious about what this means for 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. She likes to joke that she went from working for one superintendent to hundreds of thousands through PlanGrid. Autodesk funded the transaction using a combination of cash on hand and a short-term loan. You can view the video of our conversation below. Watch the video below for a message from Autodesk CEO, Andrew Anagnost, and PlanGrid CEO, Tracy Young. 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. 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. 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. "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. Merger and Acquisitions: Autodesk Inc will acquire PlanGrid Inclusive of the transaction, the company is maintaining its free cash flow goal for fiscal 2020. 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 integration ecosystems to which customers can connect other software applications. Prior to founding PlanGrid, Young helped build several hospitals as a construction engineer. 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. Visit us at www.plangrid.com. About Autodesk Autodesk makes software for people who make things. Beyond Point Solutions: A Unified Data Platform 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. Autodesk and PlanGrid have developed complementary construction software. PlanGrid will enable Autodesk to offer a more comprehensive suite of cloud-based construction products that connects the office, trailer and jobsite. Video - Autodesk Completes PlanGrid Acquisition. There are currently no plans to increase PlanGrid’s price or change the way PlanGrid is sold. Learn more at www.plangrid.com. Our mission has always been to build simple, beautiful … Introducing Autodesk Construction Cloud. 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. For more information, see the PlanGrid FAQ and video. The price of the transaction was $875 million. 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. 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. In the immediate future, it is business as usual; you will see no change in PlanGrid’s product, service offerings or customer support. PlanGrid users are currently building many of the world’s top construction projects. "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. Young holds a Bachelor of Science degree in Construction Engineering Management from California State University-Sacramento. 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 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. Autodesk announced plans to acquire PlanGrid for $875 million today. 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. 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. Autodesk. 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. 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. 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. PlanGrid is used on more than 1.5 million projects across commercial, heavy civil and other industries in 100+ countries. 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. This acquisition will enable Autodesk to offer a more comprehensive, cloud-based construction platform. 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. 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. For fiscal year 2020, Autodesk expects PlanGrid to contribute approximately $100 million in ARR and be slightly dilutive to profitability and cash flow. 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. The San Francisco startup helped move blueprints from paper to the iPad when it launched in 2011. LEARN MORE. About PlanGrid 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. On Dec 20, 2018 the acquisition was completed. Autodesk Inc has closed its previously announced acquisition of San Francisco-based PlanGrid, a provider of construction productivity software. Autodesk and PlanGrid have developed complementary construction software. About AutodeskAutodesk makes software for people who make things. And we remain committed to interoperability with other critical construction technology. PlanGrid builds simple, powerful software construction teams love to use. 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.". PlanGrid started in 2011 with a simple mission: to make construction paperless. Today, Autodesk also announced its intent to acquire BuildingConnected. 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 Experience the power of connected construction today. 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. Autodesk funded the transaction using a combination of cash on hand and a short-term loan. 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. 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. Autodesk and PlanGrid have developed complementary construction software. All other brand names, product names or trademarks belong to their respective holders. Autodesk recently announced its intent to acquire PlanGrid, and the transaction is now complete. As always, please do not hesitate to reach out to us with any questions you may have over the coming weeks. PlanGrid. The PlanGrid acquisition is the largest ever by Autodesk, emphasizing just how important the mission of digitizing construction is to Autodesk as an organization. Autodesk gives you the power to make anything. Autodesk and PlanGrid have developed complementary construction software. Young founded PlanGrid with Ralph Gootee, Ryan Sutton-Gee, Antoine Hersen, and Kenny Stone in the fall of 2011. Autodesk and PlanGrid have developed complementary construction software. On behalf of everyone at PlanGrid, thank you for your support, trust and business. 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