Autodesk is all set to acquire a company called Plan Grid, which is basically a construction productivity software startup for a price of $875 million. This announcement was made on Tuesday and Google and Sequoia are the companies which will be backing up Autodesk with this deal.
Autodesk is basically a software company with a worth of $27 billion and is popularly known all around the world for their famous software AutoCAD.
All the transactions which will be executed for this deal will be completed in the fourth quarter of the fiscal year 2019 which will be ending on the 31st of January 2019.
Plan Grid is basically a Google Venture which was founded in the year 2012. Sequoia Capital was the company which backed up Plan Grid when it started as the main company to invest their capital. The aim of Autodesk is to integrate both the software of Plan Grid and Autodesk and create a more powerful construction management platform.
In an interview, Plan Grid said that they are basically focused on increasing the productivity of the construction workers so that they are able to work in a better manner. The CEO of Plan Grid is Tracy Young, who was also one of the co-founders of the company. The first thing that Autodesk will do after acquiring this company is to simply use this software in such a manner that the productivity of the tool increase.