Posted by Mumbai: Autodesk to acquire Pype – a construction software firm. Autodesk on Wednesday said that it has signed a definitive agreement to acquire Pype. However, the Mill Valley – California based company hasn’t disclosed the financial details of this deal.
Pype is a Herndon – Virginia headquartered cloud-based construction software firm with Indian office in Bangalore city. It provides software solutions for automating construction project management workflows.
With Pype’s buyout, Autodesk will further expand its Autodesk Construction Cloud portfolio with automation workflow capabilities that will drive more value to its customers and users.
General contractors, subcontractors and owners will able to gain even more value from Autodesk Construction Cloud by automating critical construction workflows such as submittals and closeouts to increase productivity and mitigate project risk.
Pype’s suite of software reduces manual workflows and human error that can lead to rework, cost overruns and schedule delays on construction projects.
The company’s technology leverages artificial intelligence and machine learning. That automatically analyse and extract critical construction data such as project plans and specifications to be used throughout the project lifecycle.
By automating traditional manual workflows and converting real-time data into actionable insights, construction teams have the power to increase collaboration and project efficiency. Pype customers include top general contractors such as Barton Malow, JE Dunn, McCarthy, Mortenson and Skanska, among others.
Since 2017, Autodesk has invested in nine construction technology startups. The company also acquired Assemble, BuildingConnected and PlanGrid; these three acquisitions alone total more than $1.1 billion.
“I could not be more optimistic about the future of the building industry,” said Andrew Anagnost, CEO – Autodesk.
“Pype’s robust machine learning capabilities will empower Autodesk customers to connect workflows across the building lifecycle in new ways and optimize their businesses for long-term resiliency,” added Anagnost.
“We’re incredibly proud of the rapid growth Pype has experienced since its founding in 2013,” said Sunil Dorairajan, CEO and Co-Founder, Pype.
“We’ve launched four widely adopted solutions to-date, each rooted in our ongoing mission to automate manual construction workflows for increased productivity and reduced risk,” added Dorairajan.
Pype as part of Autodesk, according to Dorairajan will help in expanding Pype’s automated capabilities to ensure construction teams efficiently progress through projects, from design to closeout.
Pype will integrate with Autodesk Construction Cloud
Autodesk will integrate Pype with its Autodesk Construction Cloud for streamlined project management.
Autodesk Construction Cloud is a powerful software and services portfolio for the company, comprising of Assemble, BIM 360, BuildingConnected and PlanGrid. With Autodesk’s established design authoring tools, Autodesk Construction Cloud connects headquarters, office and field teams to increase collaboration and productivity.
More so, Autodesk plans to integrate Pype products with Autodesk Construction Cloud which includes Pype’s product suite as below:
- AutoSpecs: Allows construction professionals to generate submittal logs in a matter of minutes
- Closeout: Accelerates the construction closeout process via an easy-to-use, centralized dashboard and automated document collection
- eBinder: Automatically converts hundreds of closeout documents into a fully indexed, hyperlinked and searchable turnover file
- SmartPlans: Extracts submittals, product schedules, and contract compliance requirements from drawings
“Too many critical construction workflows are still performed manually by project teams, leading to inefficiencies and exposing companies to increased risk such as schedule delays and cost overruns,” said Jim Lynch, VP and GM of Autodesk Construction Solutions, Autodesk.
“Pype’s software makes data both actionable and collaborative, allowing teams to build and automate workflows that increase on-time and on-budget project delivery,” added Lynch.
“While risk is inherent in the construction business, leveraging artificial intelligence to automate tedious yet consequential data and processes significantly reduces project risk associated with human error,” said Karuna Ammireddy, CTO and co-founder of Pype.
“Together, Pype’s solutions with Autodesk Construction Cloud will enable customers across the industry to mitigate risk during each step of the building process,”added Ammireddy.
Terms and Business Outlook
The transaction is subject to customary closing conditions and is expected to close during Autodesk’s third quarter of fiscal 2021, ending October 31, 2020.
The acquisition will have no material impact on Autodesk’s second quarter and fiscal year 2021 guidance presented on June 3, 2020, the company said in a statement.
(Image source – Autodesk)