$27 billion Autodesk just acquired the Google and Sequoia-backed construction startup PlanGrid

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PlanGrid CEO Tracy Young just sold her company for $875 million.

• Autodesk will acquire the construction productivity software startup PlanGrid for $875 million, the company announced Tuesday.

AutoDesk, the $27 billion software company best known for its architecture program AutoCAD, will acquired PlanGrid for $875 million, the company announced Tuesday.

The transaction is expected to close during AutoDesk's fourth quarter of fiscal 2019, which ends on Januiary 31, according to the company.

Founded in 2012, PlanGrid is a GV (formerly Google Ventures) and Sequoia Capital-backed construction productivity tool. Autodesk said in its statement that it intends to integrate PlanGrid's software and its Audodesk Revit and Autodesk BIM 360 contruction management platform.

"At PlanGrid, we have a relentless focus on empowering construction workers to build as productively as possible," said Tracy Young, PlanGrid cofounder and CEO.

"One of the first steps to improving construction productivity is the adoption of digital workflows with centralized data. PlanGrid has excelled at building beautiful, simple field collaboration software, while Autodesk has focused on connecting design to construction. Together, we can drive greater productivity and predictability on the jobsite," she said.