SAN FRANCISCO, March 31, 2021 /PRNewswire/ -- Autodesk,
Inc. (NASDAQ: ADSK) has announced the completion of its acquisition
of Innovyze, Inc. for $1 billion net
of cash subject to working capital and tax closing adjustments. The
acquisition positions Autodesk as a leading global provider of
end-to-end digital solutions from design to operations of water
infrastructure, accelerates Autodesk's digital twin strategy, and
creates a clearer path to a more sustainable and digitized water
industry.
Autodesk and Innovyze's complementary technologies and long-list
of shared customers offer significant value to the industry at
large. Additionally, the acquisition will enhance Autodesk's growth
potential by expanding Innovyze's global footprint and presence
across the water infrastructure value chain from design through
construction to operations and maintenance.
Innovyze's innovative software for the water industry is trusted
by approximately 3,000 customers worldwide. Customers include
public and private utility companies in many of the most populous
cities across five continents. These include a majority of ENR's
top design firms, and leading environmental and engineering
consultancies.
"We make investment decisions based on the potential value to
Autodesk and to our customers, and increasingly, we give
significant consideration to an investment's impact on
sustainability, as we did with our Spacemaker acquisition last
year," said Andrew Anagnost, CEO and
president of Autodesk. "Innovyze is no different. Responsibly
managing our use of water runs parallel to successfully sustaining
life. This is a software acquisition, but also a clear statement of
Autodesk's corporate commitment to improve our planet."
Innovyze's modeling, simulation, asset performance management
and operational analytics solutions enable more cost-effective
water distribution and collection infrastructure, more sustainably
designed drainage systems, and centralizes infrastructure asset
visibility to optimize capital and operational expenses. Innovyze
is also a global leader in digital twin technology for water
infrastructure and the acquisition accelerates Autodesk's digital
twin strategy, which includes the recent launch of Autodesk
Tandem.
Together, these capabilities allow civil engineers, water
utility companies, plant operators and water experts the ability to
better respond to issues before they become emergencies and to
improve planning for the future.
"Water is life, and safely and sustainably managing water from
cloud to ocean has been Innovyze's mission for more than thirty
years," said Colby Manwaring, CEO of
Innovyze. "Autodesk and Innovyze's technologies could not be more
complementary, which will accelerate our shared vision for
improving our resilience to climate change and quality of life for
all communities."
For more information on the acquisition, please see the
accompanying PDF here.
About Autodesk
Autodesk makes software for people who
make things. If you've ever driven a high-performance car, admired
a towering skyscraper, used a smartphone, or watched a great film,
chances are you've experienced what millions of Autodesk customers
are doing with our software. Autodesk gives you the power to make
anything. For more information visit autodesk.com or follow
@autodesk.
Autodesk and the Autodesk logo are registered trademarks or
trademarks of Autodesk, Inc., and/or its subsidiaries and/or
affiliates in the USA and/or other
countries. All other brand names, product names or trademarks
belong to their respective holders. Autodesk reserves the right to
alter product and service offerings, and specifications and pricing
at any time without notice, and is not responsible for
typographical or graphical errors that may appear in this
document.
Safe Harbor Statement
This press release contains
forward-looking statements that involve risks and uncertainties,
including statements regarding the integration of Innovyze and the
impact of the transaction on Autodesk's and Innovyze's products and
services capabilities, customers, and partners.
Factors that could cause actual results to differ materially
include the following: Autodesk's ability to successfully integrate
Innovyze's business; costs related to the acquisition; whether the
building infrastructure and design industry grows as anticipated;
the competitive environment in the building infrastructure and
design industry and competitive responses to the acquisition;
Autodesk and Innovyze's success developing new products or
modifying existing products and the degree to which these gain
market acceptance; general market and business conditions; and any
unanticipated impact of accounting for acquisition.
Further information on potential factors that could affect
the financial results of Autodesk are included in Autodesk's Form
10-K and subsequent Forms 10-Q, which are on file with the U.S.
Securities and Exchange Commission. Autodesk disclaims any
obligation to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made.
We may make statements regarding planned or future
development efforts for our existing or new products and services.
These statements are not intended to be a promise or guarantee of
future delivery of products, services or features but merely
reflect our current plans, which may change. Purchasing decisions
should not be made based upon reliance on these statements. The
Company assumes no obligation to update these forward-looking
statements to reflect events that occur or circumstances that exist
or change after the date on which they were made.
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SOURCE Autodesk, Inc.