{"id":4627,"date":"2019-01-23T16:05:21","date_gmt":"2019-01-23T21:05:21","guid":{"rendered":"https:\/\/adsknews.autodesk.com\/?post_type=news&p=4627"},"modified":"2019-01-22T20:15:05","modified_gmt":"2019-01-23T01:15:05","slug":"autodesk-acquires-buildingconnected-faq","status":"publish","type":"news","link":"https:\/\/adsknews.autodesk.com\/en\/news\/autodesk-acquires-buildingconnected-faq\/","title":{"rendered":"FAQ \u2013 Autodesk Completes BuildingConnected Acquisition"},"content":{"rendered":"

\"\" Q: What is being announced?<\/strong> A:<\/strong> On Dec 20, 2018 Autodesk announced that it signed an agreement to acquire BuildingConnected, a leading preconstruction platform, for $275\u00a0million\u00a0net of cash acquired. The acquisition was completed on January 23, 2019. This acquisition will add bid management, risk analysis, and other preconstruction solutions to Autodesk\u2019s construction portfolio. In addition, BuildingConnected\u2019s network presents an opportunity to create a robust digital marketplace for construction goods and services. Q: Why is Autodesk investing in construction technology?<\/strong> A: <\/strong>Autodesk is investing in digitizing and automating construction workflows to improve collaboration, quality, safety and productivity. Autodesk\u2019s goal is to connect construction processes across design, build and operate. The combined power of BuildingConnected, along with Autodesk BIM 360, Revit, AutoCAD, and our acquisitions of PlanGrid and Assemble Systems, gives us a comprehensive construction offering and go to market capabilities that addresses the critical processes and workflows across the project lifecycle. We look forward to integrating our recent acquisitions and contributing to Autodesk\u2019s next billion-dollar business. Q:<\/strong> What does BuildingConnected do?<\/strong> A:<\/strong> BuildingConnected offers owners, general contractors, and subcontractors a suite of preconstruction software tools to help streamline their businesses and communicate more efficiently with each other. Q: How many employees does BuildingConnected<\/strong> have?<\/strong> A:<\/strong> Approximately 180 employees. Q: What are BuildingConnected\u2019s origins?<\/strong> A:<\/strong> BuildingConnected was founded in 2012 and is headquartered in San Francisco. The company aims to improve the lives, jobs, and relationships of millions of hardworking construction professionals worldwide by\u00a0building\u00a0easy-to-use products that improve the preconstruction process. Q: Who is BuildingConnected\u2019s<\/strong> executive team?<\/strong> A:<\/strong> Dustin DeVan, CEO and co-founder, and Jesse Pederson, CTO and co-founder. Q: Who are <\/strong>BuildingConnected\u2019s customers and how many are there?<\/strong> A: <\/strong>BuildingConnected has built a network of more than 700,000 construction professionals, helping real estate owners and general contractors find and hire qualified contractors for their projects. It is the largest and fastest-growing digital network of construction professionals. BuildingConnected\u2019s customers include Turner Construction, McCarthy, Mortenson, StructureTone, Skanska, Clark Construction, Ryan Companies and AECOM. Q: Why is Autodesk acquiring BuildingConnected?<\/strong> A:<\/strong> This acquisition is part of Autodesk\u2019s goal to accelerate construction productivity and improve how information is exchanged across all construction project teams. The strategic rationale for this acquisition includes: <\/p>\n