Autodesk Buying Construction Software Company Pype

Computer-aided design software firm Autodesk (NASDAQ: ADSK) announced this morning that it has signed a definitive agreement to acquire Pype, a provider of cloud-based solutions for automating construction project management workflows.

As the company explains:

Pype's suite of software reduces tedious manual entry and human error that can lead to rework, cost overruns and schedule delays on construction projects. The company's technology leverages artificial intelligence and machine learning to automatically analyze and extract critical construction data such as project plans and specifications to be used throughout the project lifecycle. By automating these traditional manual workflows and converting real-time data into actionable insights, construction teams have the power to increase collaboration and project efficiency.

Source Fool.com