$27 billion Autodesk just acquired the Google and Sequoia-backed construction startup PlanGrid (ADSK)

Tracy Young PlanGrid

  • AutoDesk will acquire the construction productivity software startup PlanGrid for $875 million, the company announced Tuesday.

AutoDesk, the $27 billion software company best known for its architecture program AutoCAD, will acquired PlanGrid for $875 million, the company announced Tuesday.

Founded in 2012, PlanGrid is a GV (formerly Google Ventures) and Sequoia Capital-backed construction productivity tool. 

"At PlanGrid, we have a relentless focus on empowering construction workers to build as productively as possible," said Tracy Young, PlanGrid cofounder and CEO.

"One of the first steps to improving construction productivity is the adoption of digital workflows with centralized data. PlanGrid has excelled at building beautiful, simple field collaboration software, while Autodesk has focused on connecting design to construction. Together, we can drive greater productivity and predictability on the jobsite," she said.

SEE ALSO: Wall Street thinks these 5 public software companies could get acquired in mega-deals amid the market downturn

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