Companies
Autodesk Acquires Trade Workforce Management Platform Rhumbix
Acquisition comes on the day the software giant switches Construction Cloud branding to Forma
Autodesk has agreed to acquire field workforce management platform Rhumbix.
Autodesk announced March 24 it has agreed to acquire Rhumbix, a construction technology company specializing in management of labor and field productivity resources.
"We know that resource management is a critical need for our construction customers, and Rhumbix brings a proven solution with strong industry adoption among self-perform general contractors, specialty contractors, and select heavy civil contractors," Autodesk Vice President for AEC Amy Bunszel wrote in a blog post. "Should our proposed acquisition of Rhumbix close as anticipated, our long-term intent is to deepen field-to-finance workflows within Autodesk Forma, strengthening visibility from the jobsite across project systems."
The Rhumbix cloud-based platform is designed to help contractors with field data collection and back-end processes for timekeeping and payroll, daily reporting, time and materials management, safety, quality, production tracking and reporting and analytics.
Project Management Platform Rebranded as Forma
The rebranding of Autodesk's Construction Cloud project management cloud platform as Forma was announced at the same time as the Rhumbix acquisition, touted by the San Francisco construction and design software giant as part of its commitment to strengthening field construction workflows using its tools.
Autodesk had previously invested $8 million in the startup as part of its Forge Fund investments.
"Autodesk has been a close partner of ours for some time," said Rhumbix CEO and Cofounder Zach Scheel in a statement. "We share a deep alignment on where the construction industry is headed and what it takes to get there: solutions that improve project outcomes, streamline processes, and empower teams in the field–particularly specialty contractors–to work more efficiently, building on Autodesk’s strong foundation with general contractors."
Both sides said they would operate independently until the transaction closes, with terms of the acquisition deal not disclosed.
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