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**Companies Seek to Boost Construction Efficiency**
**SAN RAFAEL, CA, DEC 20, 2018** — Autodesk, Inc. (NASDAQ: ADSK), a global leader in design and engineering software, has successfully completed its acquisition of PlanGrid, a pioneer in construction productivity solutions, for $875 million, net of cash. The transaction was financed using a mix of existing cash reserves and a short-term loan.
Autodesk and PlanGrid have developed complementary tools that enhance construction workflows. Autodesk’s BIM 360 platform integrates people, data, and processes across construction projects, fostering informed decision-making throughout the entire project lifecycle. Meanwhile, PlanGrid offers general contractors, subcontractors, and owners in sectors like commercial and heavy civil engineering the ability to access real-time updates on blueprints, punch lists, progress photos, and daily field reports.
“PlanGrid has been instrumental in creating software that addresses the needs of project teams handling essential documentation,†said Andrew Anagnost, CEO of Autodesk. “I’m thrilled to welcome the PlanGrid team into the Autodesk family. Together, we’ll empower construction professionals with immediate advantages while preparing them for future innovations in design, construction, and operational processes.â€
Autodesk intends to merge PlanGrid’s software with its own offerings, such as Revit and BIM 360, ensuring seamless communication among all stakeholders. For further details, refer to the [PlanGrid FAQ](https://example.com/plangrid-faq) and accompanying video.
**Client Insights**
DPR Construction, a top-tier commercial contractor focusing on sustainable and complex projects, expressed enthusiasm over this merger. “Data flow remains one of the biggest hurdles in construction—getting the right information to the right people at the right time,†noted Atul Khanzode, CTO of DPR Construction. “This acquisition will significantly enhance how data is shared, boosting productivity and predictability. Tools like BIM 360 have already streamlined our project planning, allowing us to implement lean practices effectively. We’re also leveraging PlanGrid to ensure everyone works with the latest datasets.â€
Clayco, a renowned design-build firm listed among ENR's Top 100, specializes in delivering cutting-edge solutions for industrial facilities and corporate offices. Bob Clark, founder and CEO of Clayco, remarked, “Paper-based processes often lead to outdated documentation, which can delay projects. To mitigate this, we adopted BIM 360 and PlanGrid to digitize every stage of construction. This acquisition brings two strong platforms under one umbrella, promising enhanced collaboration from concept to handover. I’m eager to see how Autodesk and PlanGrid will collaborate to revolutionize the industry.â€
**Future Outlook**
The acquisition concluded on December 19, 2018, and will partially influence Autodesk’s Q4 fiscal 2019 results, ending January 31, 2019. While PlanGrid’s contribution to revenue will be minimal, the transaction is expected to slightly impact profitability and cash flows during this period. Moving forward, Autodesk anticipates PlanGrid to generate around $100 million in ARR for fiscal 2020, with a slight dilution effect on profitability and cash flow. Despite this, Autodesk remains committed to its free cash flow goals for fiscal 2020.
In addition, Autodesk announced plans to acquire BuildingConnected. For more information, check out the [press release here](https://example.com/buildingconnected-acquisition).
**Forward-Looking Statements**
This press release includes forward-looking statements involving risks and uncertainties, such as predictions about the impact of the acquisition on Autodesk’s guidance from November 20, 2018, and its overall business performance. It also outlines expectations regarding product development, customer engagement, and improved construction workflows.
Factors that might cause actual outcomes to differ materially include challenges in integrating PlanGrid’s operations, potential costs associated with the acquisition, market growth rates, competitive pressures, and unforeseen accounting implications. For a comprehensive overview of these risks, consult Autodesk’s Annual Report on Form 10-K for fiscal 2018 and subsequent Quarterly Reports on Form 10-Q.
Autodesk assumes no obligation to update these forward-looking statements beyond the date they were made.
**About PlanGrid**
PlanGrid develops intuitive, high-impact construction software. Its mobile-first approach ensures real-time access to critical information for general contractors, subcontractors, owners, and architects. Features include managing blueprints, RFIs, punch lists, and field reports—all accessible via any device. PlanGrid powers over one million projects globally, spanning various industries and 90 countries. Founded in 2011 and headquartered in San Francisco, PlanGrid has received backing from top investors like YCombinator, Sequoia Capital, and Tenaya Capital. Visit [plangrid.com](https://www.plangrid.com) to learn more.
**About Autodesk**
Autodesk empowers creators across industries to bring ideas to life. Whether it’s designing high-performance vehicles, iconic skyscrapers, or award-winning films, millions rely on Autodesk’s tools. The company believes in giving users the freedom to create anything imaginable.
**Trademark Notes**
Autodesk, BIM 360, and Revit are registered trademarks of Autodesk, Inc., and its subsidiaries worldwide. Other brands mentioned belong to their respective owners. Autodesk retains the right to modify product features and pricing without prior notice.
**© 2018 Autodesk, Inc. All Rights Reserved.**