Autodesk announced it has signed a definitive agreement to acquire construction productivity software developer PlanGrid for $875 million net of cash. The transaction is subject to customary closing conditions and is expected to close during Autodesk’s fourth quarter of fiscal 2019, ending Jan. 31, 2019.
Autodesk says the acquisition will enable it to offer a more comprehensive, cloud-based construction platform.
PlanGrid software allows general contractors, subcontractors and owners in commercial, heavy civil and other industries work throughout the construction project lifecycle.
“As designing and making converge, Autodesk is connecting project data from design through construction and putting insights into the hands of contractors,” Autodesk CEO Andrew Anagnost said.