Autodesk has announced its third major acquisition in the past 12 months in a move that will see it provide software for bidding and tenders and strengthen its construction offering.
It has signed a definitive agreement to acquire construction bid-management platform BuildingConnected for $275m (£218m) net of cash.
BuildingConnected is a network in which property owners and tier one contractors can connect with and hire specialist firms. Its customers include Turner Construction, McCarthy, Mortenson, StructureTone, Skanska, Clark Construction and Aecom.
BuildingConnected also brings with it TradeTapp, a subcontractor risk analysis platform, and Bid Board Pro, a platform that claims to help subcontractors manage and win more bids.
Under Autodesk’s umbrella, BuildingConnected CEO and co-founder Dustin DeVan is looking to “expand the platform’s capabilities and scale globally”.
This latest acquisition furthers Autodesk CEO Andrew Anagnost’s mission to connect construction processes across the design and construction operation.
In November, Autodesk acquired PlanGrid in an $875m (£694m) cash deal that PlanGrid CEO Tracy Young said will “completely change the construction technology landscape”.
Although Autodesk’s BIM 360 product addresses quality and safety issues on the jobsite, the company wanted to accelerate its field efforts even further, which is where PlanGrid came in.
Autodesk CEO Andrew Anagnost said: “Autodesk’s goal is to connect construction processes across design, build and operations.
“BuildingConnected has proven to customers the tremendous value in moving from traditional rolodexes, whiteboards, emails and spreadsheets to an easy-to-use digital bidding platform.
“BuildingConnected, along with Autodesk BIM 360, Revit, AutoCAD, and our acquisitions of PlanGrid and Assemble Systems, gives us a comprehensive construction offering and go-to-market capabilities. We look forward to integrating our recent acquisitions and making construction Autodesk’s next billion-dollar business.”
“This acquisition provides an opportunity for Autodesk and BuildingConnected to connect every business in the construction industry, becoming the definitive source of information throughout the sector,” said Jim Lynch, vice president and general manager, Autodesk Construction Solutions.