Autodesk to Boost Water-Infrastructure Software With $1 Billion Innovyze Acquisition
February 24 2021 - 7:38AM
Dow Jones News
By Matt Grossman
Autodesk Inc. said Wednesday it has agreed to acquired Innovyze,
a maker of software used in water-infrastructure design, for $1
billion net of cash.
San Rafael, Calif.-based Autodesk said that combining Innovyze's
software with Autodesk products will improve its offerings to
engineers, water utilities and water experts for design and
system-management projects.
Innovyze, based in Portland, Ore., has been making water-systems
software for 35 years and has roughly 3,000 customers, according to
Autodesk. Its users include design firms, consultancies and utility
companies in major cities.
The deal is expected to close during the first quarter of
Autodesk's 2022 fiscal year, a three-month period that will end on
the last day of April.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
February 24, 2021 07:23 ET (12:23 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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