Chili Cutting Machine With Separator Jiangyin Longchang Machinery Manufacturing Co,Ltd , https://www1.jylongchanggrinderline.com
**Companies Aim to Enhance Communication Across All Construction Project Teams**
[Image description: A photo showing a collaborative workspace with construction workers and architects reviewing blueprints]
**SAN RAFAEL, CA, Nov 20, 2018** — Autodesk, Inc. (NASDAQ: ADSK), a global leader in design and manufacturing software, has announced an agreement to acquire PlanGrid, a prominent provider of construction productivity solutions, for $875 million. This acquisition marks a significant step toward creating a more integrated, cloud-based construction platform that will benefit all stakeholders involved.
PlanGrid’s software facilitates collaboration among general contractors, subcontractors, and property owners across various sectors such as commercial and heavy civil construction. Its tools allow teams to stay synchronized in real time, ensuring that everyone—from the field to the office—is on the same page. Features like access to updated project plans, punch lists, task assignments, progress photos, daily reports, and submittals ensure transparency and efficiency throughout the entire construction lifecycle.
Andrew Anagnost, CEO of Autodesk, expressed enthusiasm about the merger, stating, "The convergence of design and production presents a unique opportunity to revolutionize workflows in the construction sector. By acquiring PlanGrid, we’re not only expanding our offerings but also accelerating our mission to make construction processes smarter and more predictable."
Tracy Young, CEO of PlanGrid, echoed this sentiment, emphasizing their commitment to empowering construction professionals. "Adopting digital practices with centralized data is key to boosting productivity," she explained. "With our user-friendly field collaboration tools combined with Autodesk’s design expertise, we’re poised to transform how projects are executed."
**Proposed Integration**
Jim Lynch, Autodesk’s Construction General Manager, highlighted the strategic alignment between the two companies. He noted that integrating PlanGrid's technology with Autodesk Revit and BIM 360 will create seamless communication channels among all project participants. "Our goal is to provide a cohesive experience where every team member has immediate access to accurate information," he added.
Both firms have cultivated robust ecosystems of compatible applications. With this acquisition, Autodesk anticipates further growth in partnerships, offering customers even more flexibility to experiment with innovative approaches tailored to their needs.
**Terms and Business Outlook**
While the deal remains subject to standard regulatory approvals, it is anticipated to conclude during Autodesk’s fourth fiscal quarter ending January 31, 2019. Given the uncertainty surrounding the precise closure date, no adjustments have been made to Autodesk’s current quarterly projections. However, initial impacts may slightly influence revenue without significantly affecting profitability or cash flows. For the upcoming fiscal year 2020, Autodesk forecasts PlanGrid contributing approximately $100 million in annual recurring revenue (ARR). Although mildly dilutive initially, long-term benefits are expected to outweigh these short-term challenges.
For additional context regarding the acquisition, including detailed company profiles, complementary product features, and testimonials from satisfied users, refer to the attached PDF document.
**Conference Call and Webcast**
Today’s announcement will also feature prominently during Autodesk’s third-quarter earnings call scheduled for 5:00 PM EST. Interested parties can join via live stream at [http://www.autodesk.com/investor](http://www.autodesk.com/investor). Additional financial updates and prepared commentary will be available on Autodesk’s investor relations webpage alongside this press release.
A recording of the webcast will be accessible starting at 7:00 PM EST via the same URL. This recording will remain publicly available on Autodesk’s site for at least one year.
**Safe Harbor Statement**
This press release includes forward-looking statements involving inherent risks and uncertainties. These statements address expectations concerning the proposed PlanGrid acquisition timeline, its effect on Autodesk’s guidance for 2018, product enhancements post-merger, and broader industry trends impacting both organizations. Actual outcomes might vary due to unforeseen circumstances related to market dynamics, technological advancements, or economic conditions.
Additional information regarding potential risk factors can be found in Autodesk’s Annual Report on Form 10-K for the fiscal year ending January 31, 2018, along with subsequent Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission. Autodesk assumes no responsibility to update these forward-looking statements based on future developments beyond the original publication date.
---
*Note: The above text expands upon the original content while maintaining authenticity and readability.*