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.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 20,412,501 — Total deaths: 744,649— Total recoveries: 12,629,465Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 5,163,509 — Total deaths: 164,994 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. Politics: Pelosi on state of coronavirus stimulus talks: "It's a chasm"
  4. Business: U.S. already feeling effects of ending unemployment benefits.
  5. Public health: America is flying blind on its coronavirus response.
  6. Education: Gallup: America's confidence in public school system jumps to highest level since 2004.

Pelosi on state of coronavirus stimulus talks: "It's a chasm"

Democrats and the Trump administration remain "miles apart" on negotiations over a coronavirus stimulus deal, House Speaker Nancy Pelosi (D-Calif.) said on Wednesday.

Driving the news, via Axios' Dion Rabouin: Congress' failure to renew enhanced unemployment measures for millions of Americans at the end of July is already affecting consumer spending patterns, holding down retail purchases and foot traffic, economists at Deutsche Bank say.

3 hours ago - World

U.S. threatens to veto UN peacekeeping in Lebanon over Hezbollah concerns

Peacekeepers with Lebanese troops in southern Lebanon. Photo: Jalaa Marey/AFP via Getty

The Trump administration is threatening to veto a resolution to extend the UN's long-standing peacekeeping mission in southern Lebanon if its mandate isn't changed, Israeli and U.S. officials tell me.

Why it matters: The U.S. is the main funder of the UN Interim Force in Lebanon (UNIFIL), which has an annual budget of $250 million. The veto threat is a tactical move, and part of a broader effort to put pressure on Iran and its proxy in Lebanon, Hezbollah.