Autodesk to Acquire Pype
Lightning Partners Advises Pype in Transaction that Will Empower Autodesk Customers to Automate Traditional Manual Workflows with Artificial Intelligence and Machine Learning
HERNDON, Va. & SAN RAFAEL, Calif., July 22, 2020 — Lightning Partners, a growth technology investment bank, served as the exclusive financial advisor to Pype, a provider of cloud-based solutions for automating construction project management workflows, in its signing of a definitive agreement to be acquired by Autodesk, Inc. (NASDAQ: ADSK).
The transaction will empower Autodesk customers with Pype’s suite of software, which leverages artificial intelligence and machine learning, by automating critical workflows to increase productivity and mitigate project risk.
“Artificial intelligence and machine learning are impacting every industry as companies seek a competitive edge through automation and efficiency,” said Dan Williams, Managing Partner, Lightning Partners. “This transaction is another example of how Lightning Partners delivers outstanding outcomes by unlocking the synergies between innovative companies like Pype that employ AI and ML technology with established industry leaders like Autodesk.”
“The Lightning Partners team was a tremendous asset to us as we navigated the transaction process, said Sunil Dorairajan, CEO and co-founder of Pype. “They acted as an extension of our team, kept the process on track, and helped us think strategically through key decisions.”
Headquartered in Herndon, Virginia, Pype was founded in 2015 by Sunil Dorairajan and Karuna Ammireddy.
The transaction is subject to customary closing conditions and is expected to close during Autodesk’s third quarter of fiscal 2021, ending October 31, 2020. Terms of the transaction were not disclosed.
About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.
Pype is the construction industry's first SaaS provider for submittal log management and project closeout. Over 40% of the ENR top 400 use AutoSpecs, Closeout, and SmartPlans to provide unprecedented insights on spec and closeout data, help teams extract actionable information from specifications and plans to close communication gaps between design, construction, and operations teams, and ensure a higher level of quality assurance, efficiency, and risk management on projects coast-to-coast. For more information, visit www.pype.io/.
Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.