Autodesk adding to construction software portfolio with deal for AI-powered Pype

Autodesk Inc. (Nasdaq: ADSK) said it has signed a definitive agreement to acquire Pype, a Virginia-based provider of cloud-based solutions for automating construction project management workflows.

The San Rafael-based creator of construction, manufacturing and media design software said the acquisition will allow general contractors, subcontractors and owners to further automate construction workflows such as submittals and closeouts to increase productivity and mitigate project risk.

Following the acquisition, Autodesk plans to integrate Pype products with Autodesk Construction Cloud. The deal is expected to close in Autodesk's third quarter, ending Oct. 31.

Pype's suite of software “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,” the announcement said. 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 of Autodesk, in the deal announcement July 22. "Even in challenging times such as those we are currently facing, Autodesk remains focused on making the jobs of people who build easier. 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."

"We're incredibly proud of the rapid growth Pype has experienced since its founding in 2015," said Sunil Dorairajan, CEO and co-founder of 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. Now as part of Autodesk, we look forward to expanding these automated capabilities to ensure construction teams efficiently progress through projects, from design to closeout."

"JE Dunn has been a pioneer at incorporating innovation to create and enhance robust digital and automated processes," said John Jacobs, Chief Information Officer of JE Dunn. "Both Autodesk and Pype have been strategic partners throughout this digital journey, each with unique strengths and best-in-class solutions. Combining Autodesk's construction management technology with Pype's AI-powered project management capabilities will certainly accelerate the ongoing transformation of our industry."

Pype will integrate with Autodesk Construction Cloud, which includes 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.