Companies are working to build a digital marketplace aimed at transforming the global construction industry. SAN RAFAEL, CA — On January 23, 2019, Autodesk, Inc. (NASDAQ: ADSK) announced the completion of its acquisition of BuildingConnected, a top preconstruction platform, for $275 million, net of cash acquired. The deal was funded using Autodesk’s existing cash reserves. BuildingConnected has become the largest and most active digital network in the construction sector, with over 700,000 professionals using its platform. It streamlines the bidding process and improves communication, making it easier for construction firms to find, evaluate, and select subcontractors or respond to project opportunities efficiently. Owners and general contractors can manage the entire bidding and evaluation process from one central location, while subcontractors and vendors can track their opportunities and increase their chances of winning work. “BuildingConnected’s bid management and risk analysis tools help contractors connect with the right people for the right projects,†said Dustin DeVan, CEO and co-founder of BuildingConnected. “This partnership gives us the chance to offer an end-to-end solution that connects preconstruction to project completion like never before.†Jim Lynch, Vice President and General Manager of Autodesk Construction Solutions, added, “Transparency, collaboration, and efficiency are key to managing complex construction projects. Our customers want advanced digital tools that give them confidence in their data, help them work smarter, and support better connections across the entire project lifecycle. With BuildingConnected, we’re giving them a stronger digital toolbox to improve accuracy, reduce uncertainty, and boost productivity while building stronger relationships with subcontractors.†Andrew Anagnost, CEO of Autodesk, stated, “By acquiring BuildingConnected, we now have a strong foundation to drive the technological transformation of the construction industry. As we move forward, our focus will shift from acquiring new companies to integrating these solutions and delivering them to our current and future customers.†Brasfield & Gorrie, one of the largest privately held construction firms in the U.S., shared its perspective on the acquisition. Chris Kramer, CIO of Brasfield & Gorrie, said, “The construction industry is evolving rapidly with new technologies, materials, and methods becoming more common. We are committed to providing our clients with the best quality, value, and experience throughout the life of a project. We value our partnerships with BuildingConnected and Autodesk because they are pushing the boundaries of construction technology, and we’re excited to see how their collaboration will make it easier for all stakeholders to connect during the early stages of a project.†Autodesk plans to integrate BuildingConnected with its BIM 360, Revit, AutoCAD, PlanGrid, and Assemble Systems platforms, creating a comprehensive construction ecosystem that covers every stage of a project. This integration aims to streamline workflows and provide a more connected and efficient way for teams to collaborate. Business Outlook and Terms The acquisition is not expected to have a material impact on Autodesk’s fourth quarter or fiscal year 2019 guidance. For fiscal year 2020, Autodesk anticipates a minor revenue and Annualized Recurring Revenue (ARR) benefit from BuildingConnected, along with a slight dilution to profitability and cash flow. However, the company remains committed to its free cash flow goals for the year. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including statements about the impact of the acquisition on Autodesk’s guidance, business performance, product capabilities, customer experience, and future success. Actual results may differ due to factors such as integration challenges, market growth, competition, product development, and other economic conditions. For more details, visit the Autodesk Newsroom. About BuildingConnected BuildingConnected is a leading preconstruction platform that helps real estate owners and general contractors find qualified subcontractors for their projects. Its mission is to connect every business in the $10 trillion construction industry and improve the lives and relationships of millions of construction professionals worldwide. From major sports arenas to local schools and hospitals, BuildingConnected's tools are helping communities grow and thrive. About Autodesk Autodesk develops software for people who create and design. Whether you’ve driven a high-performance car, admired a skyscraper, used a smartphone, or watched a movie, you’ve likely experienced the impact of Autodesk’s software. We empower people to bring their ideas to life. Autodesk, AutoCAD, BIM 360, and Revit are registered trademarks of Autodesk, Inc., or its subsidiaries and affiliates in the U.S. and other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to change product and service offerings, specifications, and pricing without notice and is not responsible for typographical or graphical errors in this document. © 2019 Autodesk, Inc. 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