Acquisition creates a digital marketplace for construction

March 17th, 2019, Published in Articles: PositionIT

Autodesk has completed the acquisition of BuildingConnected, a preconstruction platform, for $275-million net of cash acquired. Autodesk funded the transaction using cash on hand. BuildingConnected centralises the bid management process and simplifies communication to make finding, qualifying and selecting the right subcontractors or responding to the right project opportunities fast and easy. Owners and general contractors use the platform to manage the bidding, qualification and bid evaluation process from one central location, while subcontractors and vendors can manage their opportunities and win more work. The platform provides Autodesk the opportunity to harness a powerful construction network. Autodesk plans to integrate workflows between BuildingConnected, Autodesk BIM 360, Revit and AutoCAD, as well as PlanGrid and Assemble Systems, to provide a comprehensive construction offering that addresses the critical processes and workflows across the project lifecycle from start-to-finish.

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