New Delhi, Jul 22 (PTI) Autodesk Inc on Wednesday said it will acquire Pype, which provides cloud-based solutions for automating construction project management workflows.

The company, however, didn't disclose the acquisition cost.

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The acquisition will empower general contractors, subcontractors and owners to gain even more value from Autodesk Construction Cloud by automating critical construction workflows such as submittals and closeouts to increase productivity and mitigate project risk, a statement said.

Pype will integrate with Autodesk Construction Cloud for streamlined project management Autodesk Construction Cloud, which brings together Assemble, BIM 360, BuildingConnected and PlanGrid, it added.

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Autodesk has approximately 500 employees in India, and Pype has 40 employees in India. The acquisition of Pype adds these 40 employees to Autodesk's India count.

The corporate office of Pype in India is in Bengaluru.

Since 2017, Autodesk has invested in nine construction technology start-ups. It also acquired Assemble, BuildingConnected and PlanGrid and these three acquisitions totalled more than USD 1.1 billion, the statement said.

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 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, the statement said.

Customers of the Virginia, US-based Pype include general contractors such as Barton Malow, JE Dunn, McCarthy, Mortenson and Skanska, among others.

"I could not be more optimistic about the future of the building industry. Even in challenging times such as those we are currently facing, Autodesk remains focused on making the jobs of people who build easier," Autodesk CEO Andrew Anagnost said.

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, he added.

Pype co-founder and CEO Sunil Dorairajan said, "We're incredibly proud of the rapid growth Pype has experienced since its founding in 2013...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."

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, the statement said.

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