Autodesk said the acquisition will add value to its construction cloud suite by helping clients increase their productivity and reduce project-related risks.

US based design software services provider Autodesk Inc signed a definitive agreement to acquire the construction focussed cloud-based software services provider Pype Technologies for an undisclosed amount.

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.

Pype, which is based in Bengaluru and US, provides software that automates workflows, helping in preventing reworks, cost overruns and project delays. Its technology leverages artificial intelligence and machine learning to automatically analyse and extract critical construction data such as project plans and specifications to be used throughout the project lifecycle.

With this acquisition, Autodesk expect to capture larger share of Indian real estate and construction market which is looking to finish projects in time despite the delay caused by the Covid-19 induced lockdown. The deal, which is subject to customary closing conditions, is likely to be completed by the end of October.