Autodesk recently made a major move in the construction technology space by acquiring BuildingConnected, a leading preconstruction platform. This strategic acquisition, announced on December 20, 2018, and finalized on January 23, 2019, was valued at $275 million, net of cash acquired. The deal aims to strengthen Autodesk’s construction portfolio by integrating powerful preconstruction tools such as bid management and risk analysis into its existing solutions.
One of the key reasons behind this investment is Autodesk's vision to digitize and automate construction workflows. By doing so, they hope to enhance collaboration, improve safety, and boost overall productivity across the construction industry. With the addition of BuildingConnected, Autodesk now has a more comprehensive suite of tools that span from design through to operations, making it easier for teams to manage every phase of a project seamlessly.
BuildingConnected is known for providing a range of preconstruction software tools designed to help owners, general contractors, and subcontractors streamline their processes and communicate more effectively. The company, founded in 2012 and based in San Francisco, has grown to become the largest digital network of construction professionals, with over 700,000 members. Its customer base includes some of the most well-known names in the construction industry, such as Turner Construction, Skanska, and AECOM.
The acquisition brings not only a strong product offering but also a talented team of around 180 employees, many of whom are focused on research and development. Dustin DeVan, the CEO and co-founder of BuildingConnected, will join Autodesk’s Construction Solutions team, working under Jim Lynch, Vice President and General Manager. The integration plan includes connecting BuildingConnected with other Autodesk products like BIM 360, Revit, PlanGrid, and Assemble Systems, creating a more unified and powerful construction platform.
It's important to note that BuildingConnected and BIM 360 serve different but complementary roles. While BIM 360 focuses on real-time data sharing and collaboration throughout the design and construction phases, BuildingConnected specializes in preconstruction activities such as bid management and subcontractor evaluation. Together, they offer a more complete solution for construction teams looking to optimize their workflows and improve project outcomes.
For those interested in learning more about this acquisition, you can visit the Autodesk Newsroom or Investor Relations sections of their website. If you have any media or investor-related questions, you can reach out to Taylor Long (Corporate Communications Manager) or Abhey Lamba (VP Investor Relations) directly.
This acquisition marks an exciting step forward for Autodesk as they continue to push the boundaries of what's possible in construction technology. With BuildingConnected in their portfolio, the future looks promising for both Autodesk and the broader construction industry.
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