Autodesk Inc., a US-based software services provider, has signed definitive agreements to acquire the construction-focussed cloud-based software services provider Pype Technologies Pvt. Ltd.
Autodesk said in a statement the acquisition will add value to its construction cloud suite by helping clients such as contractors and sub-contractors increase their productivity and reduce project-related risks.
It did not disclose the financial details of the transaction.
Pype, which is based in the US and Bengaluru, was founded in 2015 by Sunil Dorairajan and Karuna Ammireddy. The company provides software that automates workflows, helping in preventing reworks, cost overruns and project delays. Its platform also provides actionable insights based on the workflows of a project.
“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,” Autodesk CEO Andrew Anagnost said.
Dorairajan, who is also Pype’s CEO, said the move would result in expanded capabilities for the company’s suite. Ammireddy said that using artificial intelligence to automate tedious yet consequential data and processes reduces project risk associated with human error.
Pype’s primary market is North America. It has over 300 customers in the region.
The acquisition, which is subject to customary closing conditions, is likely to be completed by the end of October.
Autodesk provides its product and services for the architecture, engineering, construction, manufacturing, media, education and entertainment industries. The California-based company operates products such as AutoCAD, Revit, Flame and Maya.
The company says its acquisition of Pype marks its ninth investment since 2017. In April, it announced the acquisition of a minority stake in Aurigo Software Technologies Inc., a US- and Bengaluru-based firm that develops software for infrastructure providers and owners.