SAN RAFAEL, Calif., July 22,
2020 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK)
today announced it has signed a definitive agreement to acquire
Pype, a provider of cloud-based solutions for automating
construction project management workflows. The acquisition will
empower general contractors, subcontractors and owners to gain even
more value from Autodesk Construction Cloud by automating critical
construction workflows such as submittals and closeouts to increase
productivity and mitigate project risk.
Pype's suite of software reduces tedious manual entry and human
error that can lead to rework, cost overruns and schedule delays on
construction projects. The company's technology leverages
artificial intelligence and machine learning to automatically
analyze and extract critical construction data such as project
plans and specifications to be used throughout the project
lifecycle. By automating these traditional manual workflows and
converting real-time data into actionable insights, construction
teams have the power to increase collaboration and project
efficiency. Pype customers include top general contractors such as
Barton Malow, JE Dunn, McCarthy,
Mortenson and Skanska, among others.
Since 2017, Autodesk has invested in nine construction
technology startups. The company also acquired Assemble,
BuildingConnected and PlanGrid; these three acquisitions alone
total more than $1.1 billion.
"I could not be more optimistic about the future of the building
industry," said Andrew Anagnost, CEO
of Autodesk. "Even in challenging times such as those we are
currently facing, Autodesk remains focused on making the jobs of
people who build easier. Pype's robust machine learning
capabilities will empower Autodesk customers to connect workflows
across the building lifecycle in new ways and optimize their
businesses for long-term resiliency."
"We're incredibly proud of the rapid growth Pype has experienced
since its founding in 2015," said Sunil
Dorairajan, CEO and co-founder of Pype. "We've launched four
widely adopted solutions to-date, each rooted in our ongoing
mission to automate manual construction workflows for increased
productivity and reduced risk. Now as part of Autodesk, we look
forward to expanding these automated capabilities to ensure
construction teams efficiently progress through projects, from
design to closeout."
"JE Dunn has been a pioneer at incorporating innovation to
create and enhance robust digital and automated processes," said
John Jacobs, Chief Information
Officer of JE Dunn. "Both Autodesk and Pype have been strategic
partners throughout this digital journey, each with unique
strengths and best-in-class solutions. Combining Autodesk's
construction management technology with Pype's AI-powered project
management capabilities will certainly accelerate the ongoing
transformation of our industry."
Pype will integrate with Autodesk Construction Cloud for
streamlined project management
Autodesk Construction Cloud, which brings together Assemble, BIM
360, BuildingConnected and PlanGrid, is a powerful
portfolio of software and services comprised of advanced
technology, the industry's largest builder's network and predictive
insights. With Autodesk's established design authoring tools,
Autodesk Construction Cloud connects headquarters, office and field
teams to increase collaboration and
productivity.
Following the acquisition, Autodesk plans to integrate Pype
products with Autodesk Construction Cloud. Pype's product suite
includes:
- AutoSpecs: Allows construction professionals to generate
submittal logs in a matter of minutes
- Closeout: Accelerates the construction closeout process via an
easy-to-use, centralized dashboard and automated document
collection
- eBinder: Automatically converts hundreds of closeout documents
into a fully indexed, hyperlinked and searchable turnover file
- SmartPlans: Extracts submittals, product schedules, and
contract compliance requirements from drawings
"Too many critical construction workflows are still performed
manually by project teams, leading to inefficiencies and exposing
companies to increased risk such as schedule delays and cost
overruns," said Jim Lynch, vice
president and general manager of Autodesk Construction Solutions at
Autodesk. "Pype's software makes data both actionable and
collaborative, allowing teams to build and automate workflows that
increase on-time and on-budget project delivery. Following the
acquisition, Pype will join our portfolio of best-in-class
solutions that are widely used by the construction industry to
manage the building lifecycle from design through to
operations."
"While risk is inherent in the construction business, leveraging
artificial intelligence to automate tedious yet consequential data
and processes significantly reduces project risk associated with
human error," said Karuna Ammireddy, CTO and co-founder of Pype.
"Together, Pype's solutions with Autodesk Construction Cloud will
enable customers across the industry to mitigate risk during each
step of the building process."
Terms and Business Outlook
The transaction is subject
to customary closing conditions and is expected to close during
Autodesk's third quarter of fiscal 2021, ending October 31, 2020. The acquisition will have no
material impact on Autodesk's second quarter and fiscal year 2021
guidance presented on June 3,
2020.
For more background on the acquisition, please see the
accompanying PDF here.
About Autodesk
Autodesk makes software for people who
make things. If you've ever driven a high-performance car, admired
a towering skyscraper, used a smartphone, or watched a great film,
chances are you've experienced what millions of Autodesk customers
are doing with our software. Autodesk gives you the power to make
anything. For more information visit autodesk.com or follow
@autodesk.
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Autodesk, the Autodesk logo, Autodesk Construction Cloud,
BuildingConnected, BIM 360, PlanGrid are registered trademarks or
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© 2020 Autodesk, Inc. All rights reserved.
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SOURCE Autodesk, Inc.