On December 20, 2018, Autodesk made a significant announcement: they had reached an agreement to purchase BuildingConnected, a top preconstruction platform, for $275 million after accounting for cash acquired. The deal was successfully completed on January 23, 2019. With this acquisition, Autodesk gains access to essential preconstruction solutions such as bid management and risk analysis, adding depth to their construction offerings. Moreover, BuildingConnected's extensive network presents an exciting opportunity to develop a robust digital marketplace for construction goods and services.
Why is Autodesk investing in construction technology? Their primary goal is to digitize and automate construction workflows to enhance collaboration, quality, safety, and productivity. Autodesk envisions connecting construction processes across design, build, and operation stages. The combined strength of BuildingConnected, along with Autodesk BIM 360, Revit, AutoCAD, and the acquisitions of PlanGrid and Assemble Systems, provides them with a comprehensive construction solution and market reach that addresses critical processes and workflows throughout the project lifecycle. We look forward to integrating our recent acquisitions and contributing to Autodesk's next billion-dollar business.
So, what exactly does BuildingConnected do? This platform offers owners, general contractors, and subcontractors a suite of preconstruction software tools designed to streamline operations and foster more efficient communication among stakeholders.
BuildingConnected employs approximately 180 individuals. The company was founded in 2012 and is headquartered in San Francisco. Their mission is to enhance the lives, jobs, and relationships of millions of construction professionals globally by creating user-friendly products that optimize the preconstruction phase.
Who leads BuildingConnected? Dustin DeVan serves as CEO and co-founder, while Jesse Pederson acts as CTO and co-founder.
As for BuildingConnected's client base, they boast a network of over 700,000 construction professionals. Their platform assists real estate owners and general contractors in identifying and hiring qualified contractors for their projects. This makes them the largest and fastest-growing digital network within the construction sector. Some of their notable clients include Turner Construction, McCarthy, Mortenson, StructureTone, Skanska, Clark Construction, Ryan Companies, and AECOM.
Why is Autodesk acquiring BuildingConnected? This acquisition aligns with Autodesk's aim to boost construction productivity and improve information exchange across all project teams. Key reasons behind this move include:
- Greater presence and scale in preconstruction: Filling Autodesk's need for a construction bid management platform, leveraging BuildingConnected's vast network of construction professionals, and creating opportunities to link businesses across the supply chain.
- Construction expertise and strong R&D: BuildingConnected boasts around 180 employees, mostly in R&D, sales, and marketing. Their cloud-native expertise complements Autodesk's existing offerings beyond just bid management, providing subcontractor evaluation tools and modules to help subcontractors secure more bids.
- Compelling synergies across the construction platform: Enhancing information flow and collaboration within the construction portfolio, cross-selling opportunities between BuildingConnected, BIM 360, PlanGrid, Assemble, Revit, and AutoCAD, and potential integration of Autodesk Forge for viewing bid packages.
How will Autodesk integrate the BuildingConnected team? BuildingConnected CEO Dustin DeVan will join the Autodesk Construction Solutions team under Vice President and General Manager, Jim Lynch. Post-acquisition, all BuildingConnected teams, including sales and marketing, will continue reporting to Dustin.
Regarding product integration plans, over time, general contractors will be able to populate BuildingConnected bid packages with sheets and model views from BIM 360, PlanGrid, Assemble, and Revit. Subcontractors viewing bids will also have the capability to examine bid documents using a mix of BIM 360, PlanGrid, and Forge technologies.
Does BuildingConnected overlap with BIM 360? No, these platforms complement each other. BuildingConnected focuses on facilitating efficient reviews and selections of qualified subcontractors during procurement, emphasizing safety compliance and past performance. Meanwhile, BIM 360 serves as a unified platform connecting real-time project data across design and construction phases, aiding collaboration, constructability, quality, project controls, and document management.
How is BIM 360 performing? We've achieved success expanding our construction and project delivery toolkit via the BIM 360 platform. We're seeing solid progress and validating our mission to digitize, automate, and optimize construction workflows, particularly our ability to link data and processes from design through preconstruction, site execution, handover, and operations.
How will this acquisition affect the BIM 360 roadmap? We remain enthusiastic and committed to the BIM 360 roadmap and a bid-management platform solution for construction. We'll keep developing and expanding BIM 360 functionalities while integrating BuildingConnected to offer a wider range of construction workflows.
Where can I find more details about the acquisition? For further information, visit Autodesk's Newsroom and Investors sections. For media inquiries, reach out to Taylor Long, Corporate Communications Manager at Autodesk. For investor queries, contact Abhey Lamba, VP of Investor Relations at Autodesk.
This acquisition marks a pivotal step forward for both companies, promising enhanced connectivity and innovation in the construction industry.
Behenic Acid,Cas 112 85 6,Acid Behenic,Docosanoic Acid
Sichuan Tianyu Oleochemical Co., Ltd , https://www.sclthoil.com