Autodesk has completed its $275m (£218m) acquisition of BuildingConnected. Autodesk funded the transaction using cash on hand.
In a bid to expand its cloud-based BIM 360 along the construction chain the $27bn (£20bn) software giant absorbed data management firm Assemble Systems in July for an undisclosed amount, field management platform PlanGrid in November for $875m (£694m) (its biggest acquisition ever), and then in December announced it was acquiring bid management platform BuildingConnected.
BuildingConnected is claimed to be the largest and most active digital network in the construction industry with 700,000 construction professionals using the platform. It centralises the bid management process and simplifies communication to make finding, qualifying and selecting the right subcontractors or responding to the right project opportunities fast and easy.
Owners and general contractors use BuildingConnected to manage the bidding, qualification and bid evaluation process from one central location, while subcontractors and vendors can manage their opportunities and win more work.
“BuildingConnected’s bid management and risk analysis solution enables contractors to find the right people for the right project and provides Autodesk the unique opportunity to harness a powerful construction network,” said Dustin DeVan, CEO and co-founder of BuildingConnected. “Together, we can give contractors the ability to have a seamless flow from preconstruction through project completion for the first time ever.”
“Greater transparency, better collaboration, and an efficient bidding process are essential for delivering complex construction projects. Customers are demanding advanced digital solutions and preconstruction processes that empower them to have more confidence in their data, work smarter, and connect across the project lifecycle,” said Jim Lynch, vice president and general manager of Autodesk Construction Solutions.
“Through the robust BuildingConnected network, customers now have an enhanced digital toolbox that improves data accuracy, reduces uncertainty, and allows a more effective way to increase productivity while building stronger subcontractor relationships.”
Autodesk plans to integrate workflows between BuildingConnected, Autodesk BIM 360, Revit and AutoCAD, as well as PlanGrid and Assemble Systems, to provide a comprehensive construction offering that addresses the critical processes and workflows across the project lifecycle from start-to-finish.
"With the acquisition of BuildingConnected, we now have a strong portfolio for empowering the technological transformation of the construction industry,” said Andrew Anagnost, Autodesk CEO. “At this phase, we will transition from acquiring leading construction technology companies to integrating these solutions and bringing them to our current and future customers."