Design and architecture software company Autodesk has announced that it’s reached an agreement to acquire Spacemaker, a Norwegian startup that develops AI-supported software for urban design and development. Autodesk is coughing up $240 million for the company in a deal that’s expected to close sometime between now and January 2021.

The acquisition marks for a notable one given that Spacemaker is based out of the city of Oslo, Norway, a region that doesn’t spin out these types of acquisitions so frequently. It marks an apparent win for Spacemaker, which has raised $25 million in outside funding from investors including Atomico, Northzone, and Round Hill Ventures.

With Spacemaker, Autodesk has added yet another tool to its already large suite of software tools by the way of an acquisition. Over the years, Autodesk has acquired a handful of startups that develop software for the design, construction and engineering industries. The biggest as of recent was an $875 million purchase of PlanGrid, a startup that develops software for construction work, in 2018.

Spacemaker develops AI-supported software that’s used by architects, urban designers, and real estate developers to perform their work. The company’s software is cloud-based, as is usual with the recent crop of startups looking to make a dent in a construction industry known for the use of traditional tools.

Following the completion of the acquisition, Spacemaker will become a subsidiary of Autodesk, wherein its executives will report to Amy Bunszel, a Senior Vice President at Autodesk. The company will finance its acquisition of Spacemaker with its current cash balance.

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