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Dive brief:
- As the construction industry continues to struggle poor visibility of data and siloshas the technology giant Autodesk completed its acquisition of Rhumbixa company that focuses on collecting accurate workplace data across time, labor and payroll, according to a Tuesday post from Sidharth Haksar, vice president and head of strategy and construction partnerships at Autodesk.
- The deal will support Autodesk’s broader effort to connect processes throughout a construction project’s lifecycle, from planning, design and execution, according to Haksar. Financial terms of the acquisition were not disclosed.
- Rhumbix does not anticipate any changes to its products, service offerings or customer service, according to a company announcement. The company has Turner Construction, Suffolk Construction and DPR Construction, which he perfected the solution at his workplacesamong its customers, according to its website.
Diving knowledge:
Autodesk terminated the transaction after that reached a definitive agreement to acquire San Francisco-based Rhumbix last week. Prior to the acquisition, Autodesk led an $8 million funding round for Rhumbix in 2024.
Haksar emphasized that the problem with using construction data is not its general lack, but the quality, which can be messy, imprecise and inefficient. Rhumbix’s offering will help Autodesk deliver a product that can streamline payroll, project controls and reporting processes.
Rhumbix’s platform allows contractors to enter information through these functions using their mobile app and field forms, removing the emphasis on paper data collection. Once entered, builders can access the data in real time.
In fact, contractors across the industry continue to use their proprietary data for functions ranging from security management a Adoption of artificial intelligence. But the lack of clean and organized data has been a big thorn in their sides, holding them back leveraging robotics and other advanced technologies at the workplace.
To correct this problem, Rhumbix offers solutions for tracking time and attendance, daily reporting, compliance and health and safety reporting, according to its website.
With the acquisition, Autodesk will use Rhumbix’s platform to provide more accurate and timely cost tracking, better forecasting, earlier risk detection and stronger documentation for change orders, according to Haksar’s release.
Rhumbix plans to more closely combine its resource management capabilities with Autodesk’s construction platform, which includes workflows across cost management, scheduling, estimating and planning, the company announced in the news release.
“Rhumbix has been focused on helping construction crews capture reliable data from the job site as work is done,” Zach Scheel, co-founder and CEO of Rhumbix, said in Haksar’s post. “We believe that in partnership with Autodesk, there is a great opportunity to connect even more real-time field data to broader project workflows and support more complete visibility throughout the project lifecycle.”
The construction sector has been one lightning rods for M&A activities during the last year, with no signs of slowing down.
Indeed, the Autodesk acquisition isn’t the only recent move in the contech M&A space. In January, giant contech Procore acquired Datagrida vertical AI company that provides AI agents for contractors. Before that, project management technology company Buildots acquired Gendaa workforce and safety management platform.
