Californian software house Autodesk is to acquire a bid-management platform called BuildingConnected for $275m.
The company says the acquisition will add bid management, risk analysis and other preconstruction solutions to its portfolio.
It will also acquire BuildingConnected’s network of more than 700,000 construction professionals, which is used by clients and main contractors looking to hire particular skills. According to Autodesk, it is "the largest and most active digital network of construction professionals", with customers that include Turner Construction, McCarthy, Mortenson, StructureTone, Skanska, Clark Construction, Ryan Companies and Aecom.
In addition to its bid-management function, BuildingConnected offers "TradeTapp", a subcontractor risk analysis platform, and "Bid Board Pro", a platform that helps subcontractors manage and win more bids.
Dustin DeVan, BuildingConnected’s chief executive and cofounder, said: "Bid management is a critical step in preconstruction, since bidding is the genesis of construction projects. Our game-changing suite of preconstruction tools are saving customers time and money. We’ve helped thousands of owners, general contractors and subcontractors streamline their businesses and communicate better. Together with Autodesk, we can expand the platform’s capabilities and scale globally."
Andrew Anagnost, Autodesk’s chief executive, added: "We are investing in digitising and automating construction workflows.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."
The deal, which is expected to close by the end of next month.
BuildingConnected was founded in 2012 and has raised more than $52m in four rounds of funding.
Image: The BuildingConnected network has some 700,000 members