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Autodesk Completes PlanGrid Acquisition
**Companies Focus on Enhancing 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 top provider of construction productivity solutions, for $875 million, net of cash. The deal was financed through a mix of existing cash reserves and a short-term loan.
Autodesk and PlanGrid have developed complementary tools for the construction sector. Autodesk's BIM 360 platform serves as a central hub for construction teams, connecting people, data, and workflows throughout a project’s lifecycle. PlanGrid’s software empowers general contractors, subcontractors, and owners across various industries, offering real-time access to critical project details like blueprints, punch lists, task updates, progress photos, and more.
“PlanGrid has been exceptional in creating software that aligns perfectly with how project teams operate,†said Andrew Anagnost, CEO of Autodesk. “I’m thrilled to welcome the PlanGrid team and their clients into the Autodesk family. Together, we’ll offer construction professionals immediate advantages while preparing them for future innovations that enhance design, construction, and operational processes.â€
Autodesk intends to integrate PlanGrid’s tools with its own Revit and BIM 360 platforms to ensure smoother data exchange among all project stakeholders. For further insights, check out the PlanGrid FAQ and accompanying video.
**Customer Feedback**
DPR Construction specializes in complex and sustainable commercial projects. “Data flow is one of the biggest hurdles in construction—ensuring the latest, most accurate information reaches the right people at the right time,†noted Atul Khanzode, CTO of DPR Construction. “This acquisition excites us because it streamlines communication, boosting productivity and predictability. Using BIM 360 has improved our project planning, allowing us to forecast and track tasks efficiently, reducing waste. PlanGrid helps keep everyone in the field updated with the latest data sets.â€
Clayco, a renowned design-build firm featured in ENR’s Top 100, delivers cutting-edge solutions for industrial, warehouse, and corporate office projects. Bob Clark, founder and CEO of Clayco, remarked, “Paper-based processes on construction sites often lead to outdated documents, causing delays. That’s why we adopted BIM 360 and PlanGrid to digitize every aspect of construction. This merger brings two complementary solutions under one umbrella, and I’m eager to see how Autodesk and PlanGrid collaborate to foster teamwork from concept to completion.â€
**Financial Outlook**
The acquisition was finalized on December 19, 2018. Only a fraction of PlanGrid’s earnings will be reflected in Autodesk’s Q4 fiscal 2019 report, ending January 31, 2019. As a result, PlanGrid is expected to contribute minimally to revenue and modestly impact profitability and cash flows for this period. For fiscal year 2020, Autodesk anticipates PlanGrid to generate around $100 million in ARR and slightly reduce overall profitability and cash flow. Despite these considerations, Autodesk remains committed to achieving its free cash flow goals for fiscal 2020.
Additionally, Autodesk announced plans to acquire BuildingConnected. More details are available in the press release.
**Forward-Looking Statements**
This announcement includes forward-looking statements that carry risks and uncertainties. These involve predictions regarding: the impact of the PlanGrid acquisition on Autodesk’s November 20, 2018 guidance and business performance; the combined product and service offerings for customers and partners; and Autodesk’s strategy to optimize construction workflows.
Factors influencing actual outcomes may include Autodesk’s ability to integrate PlanGrid effectively, transaction-related expenses, market growth expectations, competition, product development success, general economic trends, and unforeseen accounting impacts. Additional information on potential risks is outlined in Autodesk’s 2018 Form 10-K and quarterly 10-Q filings with the SEC. Autodesk assumes no obligation to update these forward-looking statements.
**About PlanGrid**
PlanGrid develops user-friendly software loved by construction teams worldwide. Its mobile-first approach ensures real-time access to essential information, facilitating collaboration and actionable insights. Team members can manage and update blueprints, RFIs, punch lists, and other documents from any device. Used in over a million projects across 90 countries, PlanGrid is headquartered in San Francisco and was founded in 2011 with backing from top venture firms like YCombinator and Sequoia Capital. Visit www.plangrid.com to learn more.
**About Autodesk**
Autodesk empowers creators of all kinds, enabling them to bring ideas to life. From designing luxury cars to constructing towering skyscrapers, the company’s tools shape modern life. Autodesk equips users with the tools to create anything imaginable.
*Autodesk, BIM 360, and Revit are registered trademarks of Autodesk, Inc., and/or its affiliates. Other brands and product names belong to their respective owners. Autodesk reserves the right to modify offerings without prior notice.*
© 2018 Autodesk, Inc. All rights reserved.