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PlanGrid CEO Tracy Young. Photo: Steve Jennings/Getty Images for TechCrunch

Autodesk agreed to buy PlanGrid, a San Francisco-based provider of construction productivity software, for $875 million in cash.

Why it matters: This is part of a mini-boom in acquisitions of construction tech startups, including Oracle last year paying $1.2 billion for Axonex and Trimble this past spring paying $1.2 billion for Viewpoint.

  • ROI: PlanGrid raised around $66 million in venture funding from Sequoia Capital, GV, Founders Fund, Initialized Capital, Spectrum 28, YC, DAG Ventures, Brick & Mortar Ventures, M1 Ventures and Northgate Capital.

The bottom line, per Axios' Kia Kokalitcheva: PlanGrid was considering a new round of VC funding when it got inbound interest from Autodesk, which had previously announced its own plans to go deeper into construction industry tools. Among those involved in the negotiations was Carol Bartz, the former Autodesk CEO who now sits on PlanGrid's board of directors.

Go deeper

Scoop: Garland defends DOJ's handling of Jan. 6 probe

Attorney General Merrick Garland. Photo: Kevin Dietsch/Getty Images

Attorney General Merrick Garland will tell the House Judiciary Committee on Thursday that federal prosecutors "are doing exactly what they are expected to do" in seeking accountability for the "intolerable assault" on the Capitol on Jan. 6, Axios has learned.

Why it matters: Allies of former President Trump, including Republican congressmen, have criticized the department's treatment rioters charged with crimes, and sought to recast the insurrection as a righteous protest. Garland's testimony with be his first appearance before the panel.

Updated 43 mins ago - World

Police charge man with murder of British MP David Amess

Police outside Belfairs Methodist Church in Leigh-on-Sea, England, on Oct. 15. Photo: John Keeble/Getty Images

Police said Thursday that Ali Harbi Ali, a 25-year-old British man, has been charged with the murder of David Amess, a Conservative Party lawmaker in the U.K.

The big picture: Last week, the Metropolitan Police declared the fatal stabbing a terrorist incident, saying that they had found "a potential motivation linked to Islamist extremism."

48 mins ago - Health

Pfizer booster has 95.6% efficacy against COVID, large study shows

Photo: Scott Olson/Getty Images

A booster shot of the Pfizer-BioNTech vaccine is 95.6% effective against the coronavirus, compared with those who only had the first two initial doses, according to a large study released Thursday.

Why it matters: The study, which had more than 10,000 participants aged 16 and older, is the first controlled, randomized trial looking at boosters and their effectiveness, the companies said.

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