SAN RAFAEL, CA, DEC 20, 2018 — Autodesk, a global leader in design and engineering software, has completed its acquisition of PlanGrid, a top provider of construction management tools, for $875 million. The deal was funded using a mix of cash reserves and a short-term loan.

This strategic move combines two powerful platforms: Autodesk’s BIM 360, which streamlines project workflows and decision-making throughout the construction lifecycle, and PlanGrid, which allows teams to access real-time project data, including plans, photos, and reports from any device. Together, they aim to enhance collaboration and efficiency on construction sites worldwide.

“PlanGrid has built an exceptional product portfolio and go-to-market strategy that addresses the critical needs of construction teams,” said Andrew Anagnost, CEO of Autodesk. “By bringing PlanGrid into the Autodesk family, we can deliver immediate value to our customers and support the future of construction through technology that improves design, build, and operations.”

The integration of PlanGrid with Autodesk’s Revit and BIM 360 will enable seamless data exchange across all project stakeholders. This development is expected to streamline workflows and reduce errors caused by outdated or disconnected information.

Customer Insights

DPR Construction, a leading commercial general contractor, shared their perspective on the acquisition. Atul Khanzode, CTO of DPR, stated, “One of the biggest challenges in construction is ensuring that the right people have the most up-to-date information at the right time. With BIM 360 and PlanGrid, we’ve seen significant improvements in how we manage projects, leading to better planning, fewer delays, and increased productivity.”

Clayco, a design-build firm known for its innovative use of BIM, also welcomed the news. Bob Clark, founder and CEO of Clayco, added, “Digitizing every step of the process is essential for reducing risk and accelerating project delivery. This acquisition brings together two complementary tools under one roof, making it easier for us to collaborate with owners and improve overall project outcomes.”

Financial Outlook

With the acquisition closing on December 19, 2018, only a partial quarter of PlanGrid’s financial results will be included in Autodesk’s fourth-quarter fiscal 2019 report. The company expects PlanGrid to contribute slightly to revenue but remain modestly negative for profitability and cash flow during this period. For fiscal year 2020, Autodesk anticipates PlanGrid to generate approximately $100 million in annual recurring revenue, with a slight impact on profitability and cash flow.

Autodesk also announced its intent to acquire BuildingConnected, further expanding its presence in the construction tech space. More details can be found in the official press release.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. These statements relate to the potential impact of the acquisition on Autodesk’s guidance, business performance, and future product developments. Actual results may differ due to various factors, including the success of the integration, market conditions, and competitive dynamics.

For more information on these risks, please refer to Autodesk’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

About PlanGrid

PlanGrid is a mobile-first platform designed to help construction teams manage projects efficiently. Its real-time access to blueprints, field reports, and other critical data enables seamless collaboration between contractors, architects, and owners. Used on over one million projects globally, PlanGrid continues to transform the way construction teams work.

About Autodesk

Autodesk develops software that empowers creators and innovators across industries. From automotive design to architectural visualization, Autodesk's tools help bring ideas to life. Whether you're designing a building, creating a film, or developing a new product, Autodesk provides the tools to make it happen.

Autodesk, BIM 360, and Revit are registered trademarks of Autodesk, Inc., or its subsidiaries. All other brand names, product names, or trademarks are the property of their respective owners. Autodesk reserves the right to change product offerings, specifications, and pricing without notice. The company is not responsible for typographical or graphical errors in this document.

© 2018 Autodesk, Inc. All rights reserved.

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