The following is a press release from Autodesk announcing plans to acquire San Franciscobased construction software company PlanGrid.

Autodesk has signed a definitive agreement to acquire PlanGrid, a leading provider of construction productivity software, for $875 million net of cash. This acquisition will enable Autodesk to offer a more comprehensive, cloud-based construction platform.

PlanGrid software lets general contractors, subcontractors and owners in commercial, heavy civil and other industries work together throughout the construction project lifecycle. PlanGrid software offers real-time collaboration, keeping the field and the office on the same page. It gives builders real-time access to project plans, punch lists, project tasks, progress photos, daily field reports, submittals and more.

“As designing and making converge, Autodesk is connecting project data from design through construction and putting predictive insights into the hands of contractors,” said Andrew Anagnost, Autodesk CEO. “There is a huge opportunity to streamline all aspects of construction through digitization and automation. The acquisition of PlanGrid will accelerate our efforts to improve construction workflows for every stakeholder in the construction process.”