RTTNews | Jul 22, 2020 09:26AM EDT

09:26 Wednesday, July 22, 2020 (RTTNews.com) - Autodesk, Inc. (ADSK) has signed a definitive agreement to acquire Pype, a provider of cloud-based solutions for automating construction project management workflows. Following the acquisition, Autodesk plans to integrate Pype products with Autodesk Construction Cloud.

Autodesk said 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.

Autodesk noted that the acquisition will have no material impact on the company's second quarter and fiscal year 2021 guidance.

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