SAN RAFAEL, Calif.,
Aug. 17, 2020 /PRNewswire/ --
Autodesk, Inc. (NASDAQ: ADSK) has completed the acquisition of Pype
and its portfolio of cloud-based software solutions for the
construction industry. This acquisition and resulting product
integrations will provide additional value for Autodesk
Construction Cloud users, allowing general contractors,
subcontractors and owners to automate workflows such as submittals
and project closeout to increase overall productivity and reduce
risk throughout the project lifecycle.
Pype's solutions use artificial intelligence and machine
learning to extract and process data from project plans and
specifications. The resulting data provides unprecedented
insights on project management workflows, helps teams identify
actionable information to close communication gaps between design,
construction and operations teams, and ensures a higher level of
quality, efficiency and risk management on projects.
Pype marks Autodesk's fourth construction-based acquisition in
recent years, joining the acquisitions of Assemble in July 2018, PlanGrid in December 2018 and BuildingConnected in
January 2019.
"We are thrilled to officially welcome the Pype team to
Autodesk," said Jim Lynch, vice
president and general manager of Autodesk Construction Solutions at
Autodesk. "Pype's machine learning capabilities can be applied to
multiple field and office workflows, and directly supports our aim
to consistently provide customers with the most advanced
construction project management technology. The acquisition of Pype
is representative of our ongoing commitment to the construction
industry, and our continued vision of how cloud-based,
collaborative technology can drive the era of connected
construction."
"Pype's mission was always to help construction teams avoid
seemingly ubiquitous challenges facing a document-intensive
industry – inefficient workflows, disjointed collaboration,
schedule delays, cost overruns and more," said Sunil Dorairajan, CEO and co-founder of Pype.
"Autodesk Construction Cloud offers a powerful solution for teams
to tackle these difficulties while managing the entire building
lifecycle, from design through operations. We remain committed to
supporting both existing and new Pype customers regardless of the
technology stack they use and are excited to continue our journey
with Autodesk to help further increase productivity and decrease
risk on construction projects."
Autodesk plans to integrate Pype within its Autodesk
Construction Cloud portfolio, which encompasses best-in-class
solutions Assemble, BIM 360, BuildingConnected and PlanGrid. Pype's
product suite includes:
- AutoSpecs: Automates a highly manual process, using AI to
quickly read and extract specs to generate submittal logs with a
high level of accuracy
- 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
Terms and Business Outlook
The transaction was subject to customary closing conditions and
occurred during Autodesk's third quarter of fiscal 2021, ending
October 31, 2020. The acquisition
will have no material impact on fiscal year 2021 guidance presented
on June 3, 2020.
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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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.