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Autodesk, Inc. announced it has signed a definitive agreement to acquire Pype, a provider of cloud-based solutions for automating construction project management workflows. The acquisition will empower general contractors, subcontractors and owners to gain 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 helps reduce tedious manual entry 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 to automatically analyze and extract critical construction data such as project plans and specifications to be used throughout the project lifecycle. By automating these traditional manual workflows and converting real-time data into actionable insights, construction teams have the power to increase collaboration and project efficiency.
Pype will integrate with Autodesk Construction Cloud
Following the acquisition, Autodesk plans to integrate Pype products with Autodesk Construction Cloud. Pype’s product suite includes:
- 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
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.