Companies are working to enhance communication and collaboration among all teams involved in construction projects. SAN RAFAEL, CA, Nov 20, 2018 — Autodesk, Inc. (NASDAQ: ADSK) has announced a definitive agreement to acquire PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. This strategic move aims to create a more robust, cloud-based construction platform that connects design, project management, and field operations seamlessly. PlanGrid’s software is used by general contractors, subcontractors, and project owners across various industries, including commercial and heavy civil construction. It enables real-time collaboration between the field and the office, allowing teams to access up-to-date project plans, punch lists, daily reports, photos, and more from anywhere at any time. “As the boundaries between design and construction blur, Autodesk is bridging the gap by connecting project data throughout the entire lifecycle,†said Andrew Anagnost, CEO of Autodesk. “Digitization and automation present a huge opportunity to streamline construction processes. With PlanGrid, we’re accelerating our efforts to improve workflows and deliver better outcomes for every stakeholder.†Tracy Young, CEO of PlanGrid, added, “Our mission has always been to empower construction professionals with tools that boost productivity. The next step in this journey is adopting digital workflows with centralized data. By combining our field-focused software with Autodesk’s design-to-construction solutions, we can drive greater efficiency and predictability on job sites.†Integration Plans Jim Lynch, Construction General Manager at Autodesk, stated, “This acquisition opens new opportunities for us to support general contractors, subcontractors, and owners alike. We plan to integrate PlanGrid’s tools with Autodesk Revit and BIM 360, creating a unified flow of information across all project participants.†The two companies have developed complementary ecosystems that allow customers to connect with other software applications. The acquisition is expected to expand these ecosystems, offering users a flexible platform to test and scale new methods of working. Deal Terms and Financial Outlook The transaction is subject to standard closing conditions and is expected to be completed during Autodesk’s fourth quarter of fiscal 2019, ending January 31, 2019. While the exact timing remains uncertain, Autodesk has not included the impact in its current guidance. However, the company expects the acquisition to contribute slightly to revenue and have a modest negative impact on profitability and cash flow for the quarter. For fiscal year 2020, Autodesk anticipates PlanGrid to generate approximately $100 million in annual recurring revenue, with a slight dilutive effect on profitability and cash flow. The company maintains its free cash flow target for the year. For more details about the acquisition, including company background, product synergy, and customer feedback, please refer to the accompanying PDF. Conference Call and Webcast A detailed discussion of the acquisition will take place during Autodesk’s third-quarter earnings call today at 5:00 p.m. EST. The live webcast can be accessed at autodesk.com/investor. Additional financial details and prepared remarks will be posted to the investor relations section of Autodesk’s website at the same time as this release. A replay of the call will be available starting at 7:00 p.m. EST at the same URL. The recording will remain accessible on the website for at least 12 months. Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties. These include expectations regarding the completion of the PlanGrid acquisition, its impact on Autodesk’s business performance, and future improvements in construction workflows. Actual results could differ due to factors such as integration challenges, market conditions, competition, and other unforeseen circumstances. For more information on potential risks affecting Autodesk’s financial results, please refer to the company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018, and Quarterly Reports on Form 10-Q for the fiscal quarters ended April 30, 2018, and July 31, 2018, which are filed with the U.S. Securities and Exchange Commission. Autodesk does not assume any obligation to update forward-looking statements after the date they were made. High Whiteness Offset Paper,High Whiteness Book Paper,High Whiteness Woodfree Paper,High Whiteness Woodfree Offset Paper Puyang Longfeng Paper Co.,Ltd. , https://www.lonfonpaper.com