San Francisco, July 22 (SocialNews.XYZ) California-based software company Autodesk on Wednesday announced it has signed a definitive agreement to acquire Pype, a provider of Cloud-based solutions for automating construction project management workflows, for an undisclosed sum.
Founded in 2013 by Sunil Dorairajan and Karuna Ammireddy, Pype's suite of software reduces tedious manual entry and human error that can lead to rework, cost overruns and schedule delays on construction projects. The company is headquartered in Herndon, Virginia.
The company's technology leverages Artificial Intelligence and machine learning to automatically analyse 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'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," Andrew Anagnost, CEO of Autodesk, said in a statement.
Pype customers include top general contractors such as Barton Malow, JE Dunn, McCarthy, Mortenson and Skanska, among others.
Following the acquisition, Autodesk plans to integrate Pype products with Autodesk Construction Cloud.
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.
Source: IANS
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