Mexico. Autodesk completed the acquisition of BuildingConnected for $275 million net. Autodesk funded the transaction with cash.
BuildingConnected is the largest and most active digital network in the construction industry with 700,000 construction professionals using it. Centralizes the bid management process and simplifies communication to make it quick and easy; search, qualify and select the right subcontractors or respond to the right project opportunities. Owners and contractors generally use BuildingConnected to manage the bidding process, qualify and evaluate the bid from a central location; so subcontractors and suppliers can manage their opportunities and generate more work.
"BuildingConnected's bid management and risk analysis solution allows contractors to find the right people, for the right project; gives Autodesk the unique opportunity to leverage a powerful building network," said Dustin DeVan, CEO and co-founder of BuildingConnected. "Together we can offer contractors the ability to have a continuous flow, for the first time, from pre-construction to project completion."
"Greater transparency, better collaboration and an efficient bidding process are essential for the delivery of complex construction projects. Customers demand advanced digital solutions and pre-construction processes that enable them to trust their information, work smarter and connect throughout the project lifecycle," said Jim Lynch, vice president and general manager of building solutions at Autodesk. "Through BuildingConnected's robust network, customers now have an optimized digital toolbox that improves data accuracy, reduces uncertainty and enables a more effective way to increase productivity, while creating stronger relationships with subcontractors."
"With the acquisition of BuildingConnected, we now have a strong portfolio to power the technology transformation of the construction industry," said Andrew Anagnost, CEO of Autodesk. "In this phase, we will move from acquiring leading construction technology companies to integrating these solutions to bring them to our current and future customers."
Brasfield & Gorrie is one of the largest private construction firms in the United States, providing general contract management, design and construction services. Chris Kramer, CIO of Brasfield & Gorrie, commented: "The construction industry is undergoing rapid change, as new technology, materials and techniques become more common. We embrace innovative, cutting-edge technologies as part of our commitment to our customers to provide them with the best quality, value and overall experience throughout the life of a project. We value our partnerships with BuildingConnected and Autodesk because they are driving construction technology forward, we are excited for the two to come together to make it even easier for general contractors, subcontractors and owners to connect during the early stages of a project."
Autodesk plans to integrate workflows between BuildingConnected, Autodesk BIM 360, Revit, and AutoCAD, as well as PlanGrid and Assemble Systems, to provide a comprehensive building offering that addresses critical processes and workflows throughout the project lifecycle, from start to finish.
