Autodesk, a San Rafael, Cali.-based software maker, announced that it acquired Salem, Mass.-based Assemble Systems in a cash and stock deal. The terms of the deal were undisclosed but as a public company, Autodesk has committed to offset the shares issued for the acquisition within the current quarter through its ongoing stock repurchase program. Autodesk makes software for architecture, construction and engineering projects.
Assemble Systems is a BIM (Building Information Modeling) model-data software company and provides a SaaS solution that enables construction professionals to connect BIM data to key workflows across bid management, estimating, scheduling, site management and finance. Eventually, Autodesk plans to integrate Assemble Systems' solution with its new BIM 360 project management platform.
Autodesk led Assemble System's Series A funding round of $12 million in November 2017. Assemble Systems was founded in 2011 and is headquartered in Salem, Massachusetts with offices in Houston, Texas. The company operates mainly in North America and employs 55 people.
“I welcome the Assemble Systems team to the Autodesk family, as part of our efforts to digitize and improve the construction industry,” said Andrew Anagnost, president and CEO of Autodesk in a statement. “We are connecting project data from design through construction, creating the cloud-enabled tools necessary to make the critical preconstruction phase of a project more predictable and profitable.”
This acquisition falls in line with the trend of SaaS startups attracting more venture capital and acquisition attention. So far this year, VCs have poured in $12 billion into SaaS startups, according to data compiled by analytics firm Pitchbook.
