Companies Aim to Create a Digital Marketplace for the Global Construction Industry

SAN RAFAEL, CA, Jan 23, 2019 — Autodesk, Inc. (NASDAQ: ADSK) has completed the acquisition of BuildingConnected, a top preconstruction platform, for $275 million, net of cash acquired. The deal was funded using Autodesk’s existing cash reserves.

BuildingConnected is the largest and most active digital network in the construction industry, with over 700,000 professionals using its platform. It streamlines the bidding process and enhances communication, making it easier for owners, general contractors, and subcontractors to find, qualify, and select the right partners for their projects. This centralized system allows users to manage bids, qualifications, and evaluations from one place, while subcontractors can track opportunities and increase their chances of winning work.

“BuildingConnected’s bid management and risk analysis tools help contractors connect with the right people for each project,” said Dustin DeVan, CEO and co-founder of BuildingConnected. “By joining forces with Autodesk, we can offer a seamless flow from preconstruction all the way through to project completion—something that hasn’t been possible before.”

Jim Lynch, Vice President and General Manager at Autodesk Construction Solutions, added, “Transparency, collaboration, and an efficient bidding process are essential for complex construction projects. Our customers want advanced digital solutions that give them confidence in their data and help them work smarter across the entire project lifecycle. With BuildingConnected, we’re giving them a more powerful digital toolbox that improves accuracy, reduces uncertainty, and boosts productivity.”

Andrew Anagnost, CEO of Autodesk, stated, “This acquisition strengthens our portfolio and accelerates our mission to drive technological transformation in the construction industry. We're moving from acquiring technology leaders to integrating their solutions into our ecosystem, so we can deliver real value to our customers now and in the future.”

Brasfield & Gorrie, one of the largest privately owned construction firms in the U.S., shared their perspective. Chris Kramer, CIO of Brasfield & Gorrie, said, “The construction industry is evolving rapidly with new technologies, materials, and methods. We embrace innovation to ensure we deliver the best quality, value, and experience for our clients. Partnering with BuildingConnected and Autodesk helps us stay ahead by enabling better connections during the early stages of every project.”

Autodesk plans to integrate BuildingConnected with its BIM 360, Revit, AutoCAD, PlanGrid, and Assemble Systems platforms. This will create a comprehensive construction solution that supports the entire project lifecycle—from planning to completion. For more details on the acquisition, check out the full FAQ.

Business Outlook and Terms

The acquisition won’t significantly affect Autodesk’s fourth-quarter or fiscal year 2019 guidance. For fiscal year 2020, Autodesk expects a minor revenue and Annualized Recurring Revenue (ARR) benefit from BuildingConnected, with a slight dilutive impact on profitability and cash flow. The company remains committed to its free cash flow goals for the year.

Safe Harbor Statement

This press release includes forward-looking statements involving risks and uncertainties, such as the impact of the acquisition on Autodesk’s financial outlook, the success of integration efforts, and market expectations. Actual results could differ due to factors like integration challenges, industry growth, competition, and product adoption. More details about potential risks are available in Autodesk’s SEC filings.

For more information, visit the Autodesk Newsroom.

About BuildingConnected

BuildingConnected is a leading preconstruction platform that connects real estate owners and general contractors with qualified subcontractors. Its mission is to link every business in the $10 trillion construction industry, strengthening relationships and improving the lives of millions of construction professionals worldwide. From major sports arenas to local schools and hospitals, BuildingConnected’s tools are helping communities grow and thrive.

About Autodesk

Autodesk creates software that empowers people to bring ideas to life. Whether you drive a high-performance car, admire a skyscraper, use a smartphone, or watch a film, you’ve likely experienced the impact of Autodesk’s tools. We provide the power to make anything possible.

Autodesk, AutoCAD, BIM 360, and Revit are registered trademarks of Autodesk, Inc., or its subsidiaries. All other brand names, product names, or trademarks belong to their respective owners. Autodesk reserves the right to change product offerings, specifications, and pricing without notice. The company is not responsible for typographical or graphical errors in this document.

© 2019 Autodesk, Inc. All rights reserved.

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