Autodesk plans to acquire PlanGrid, a startup that moves blueprints from paper to the cloud, for $875 million. With the construction industry becoming increasingly digitized and automated, Autodesk sees the acquisition as an opportunity to continue helping stakeholders streamline construction work.
Tracey Young, PlanGrid CEO and co-founder, sees joining Autodesk as a way to continue building on the firm's early vision of taking a paper-intensive task and shifting it to digital.
“PlanGrid has excelled at building beautiful, simple field collaboration software, while Autodesk has focused on connecting design to construction. Together, we can drive greater productivity and predictability on the jobsite,” Ms. Young said in a statement.
PlanGrid currently has 400 employees, 12,000 customers and 120,000 paid users, and has been used on over a million construction projects worldwide, according to data provided by the companies. They believe that under Autodesk’s umbrella and combined with their existing product set, they can provide a complete construction solution and grow the business faster than PlanGrid could have on its own. Both Autodesk and PlanGrid are silver-level associate members of SMACNA.