Q: What is being announced?
A: On December 20, 2018, Autodesk made a significant move by announcing the acquisition of BuildingConnected, a top preconstruction platform, for $275 million in cash. The deal was finalized on January 23, 2019. This strategic purchase is aimed at enhancing Autodesk's construction portfolio with tools such as bid management and risk analysis. Moreover, BuildingConnected’s extensive network opens up new possibilities for creating a powerful digital marketplace for construction goods and services.
Q: Why is Autodesk investing in construction technology?
A: Autodesk is committed to transforming the construction industry through digitization and automation. The goal is to improve collaboration, quality, safety, and productivity across the entire construction lifecycle—from design to operation. By integrating BuildingConnected with other Autodesk solutions like BIM 360, Revit, AutoCAD, PlanGrid, and Assemble Systems, we're building a comprehensive platform that supports every stage of a project. This acquisition is an important step toward achieving our vision of a more connected and efficient construction industry.
Q: What does BuildingConnected do?
A: BuildingConnected provides a suite of preconstruction tools designed to help owners, general contractors, and subcontractors streamline their operations and communicate more effectively. It's a platform focused on making the early stages of construction more efficient and transparent.
Q: How many employees does BuildingConnected have?
A: BuildingConnected employs approximately 180 people, with a strong focus on research and development, sales, and marketing.
Q: What are BuildingConnected’s origins?
A: Founded in 2012 and based in San Francisco, BuildingConnected aims to make the lives of construction professionals easier by offering user-friendly tools that simplify the preconstruction process. The company is dedicated to improving relationships and job satisfaction within the industry.
Q: Who is BuildingConnected’s executive team?
A: The company is led by co-founders Dustin DeVan, CEO, and Jesse Pederson, CTO.
Q: Who are BuildingConnected’s customers and how many are there?
A: BuildingConnected has built a network of over 700,000 construction professionals, connecting real estate developers and general contractors with qualified subcontractors. Major clients include Turner Construction, McCarthy, Mortenson, Skanska, and AECOM, among others.
Q: Why is Autodesk acquiring BuildingConnected?
A: The acquisition aligns with Autodesk’s mission to boost construction productivity and enhance information exchange across teams. Key reasons include:
- Expanded Presence in Preconstruction: BuildingConnected fills a critical gap in Autodesk’s technology stack with its bid management platform and offers access to the largest network of construction professionals.
- Strong R&D and Expertise: With a team of 180, most focused on R&D, BuildingConnected brings cloud-native capabilities and tools like subcontractor evaluation modules.
- Strategic Synergies: Integration with BIM 360, PlanGrid, and Forge will improve workflow efficiency and create cross-selling opportunities across Autodesk’s product line.
Q: How will Autodesk integrate the BuildingConnected team?
A: Dustin DeVan, CEO of BuildingConnected, will join Autodesk’s Construction Solutions team under Jim Lynch. All BuildingConnected teams will continue to report to him after the acquisition.
Q: What is the BuildingConnected product integration plan?
A: Over time, we plan to integrate BuildingConnected with BIM 360, PlanGrid, Assemble, and Revit, allowing general contractors to use project data from these platforms in bid packages. Subcontractors will also be able to view bid documents using BIM 360, PlanGrid, and Forge technologies.
Q: Does BuildingConnected overlap with BIM 360?
A: No, they are complementary. While BIM 360 focuses on real-time data management throughout the design and construction phases, BuildingConnected specializes in preconstruction, helping general contractors find and evaluate subcontractors efficiently.
Q: How is BIM 360 performing?
A: BIM 360 has been performing well, showing strong growth and validation of our strategy to digitize and optimize construction workflows. It continues to support key processes like collaboration, constructability, and document management.
Q: How will this acquisition impact the BIM 360 roadmap?
A: We remain fully committed to the BIM 360 roadmap and are excited about the addition of BuildingConnected. The integration will expand BIM 360’s capabilities, offering a more complete set of tools for construction projects.
Q: Where can I get more information about the acquisition?
A: For more details, visit the following sections of Autodesk’s website:
- Newsroom
- Investors
- Media: Taylor Long, Corporate Communications Manager, Autodesk – email@example.com
- Investors: Abhey Lamba, VP Investor Relations, Autodesk – investorrelations@autodesk.com
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