SAN RAFAEL, Calif.,
Feb. 24, 2021 /PRNewswire/
-- Autodesk, Inc. (NASDAQ: ADSK) today announced it has signed
a definitive agreement to acquire Portland, Oregon-based Innovyze, Inc., a
global leader in water infrastructure software, for $1 billion net of cash subject to working capital
and tax closing adjustments. The acquisition positions Autodesk as
a technology leader in end-to-end water infrastructure solutions
from design to operations, accelerates Autodesk's digital twin
strategy, and creates a clearer path to a more sustainable and
digitized water industry.
Innovyze's modeling, simulation, and predictive analyses
solutions enable more cost-effective and sustainably designed water
distribution networks, water collection systems, water and
wastewater treatment plants, and flood protection systems. Further,
Innovyze's solutions centralize infrastructure asset visibility to
optimize capital and operational expenses. Combining Innovyze's
portfolio with the power of Autodesk's design and analysis
solutions, including Autodesk Civil 3D, Autodesk InfraWorks, and
the Autodesk Construction Cloud, offers civil engineers, water
utility companies and water experts the ability to better respond
to issues and to improve planning.
For 35-years, Innovyze has been building innovative software for
the water industry and is trusted by approximately 3,000 customers
worldwide, including utility companies in many of the most populous
cities across five continents, a majority of ENR's top design
firms, and leading environmental and engineering
consultancies.
Today, more than two billion people lack access to safe drinking
water at home, and by 2025 more than two-thirds of the world's
population will reside in water-stressed areas.
"We can achieve a more sustainable planet, but we can't do it
without responsibly managing our use of water and securing its
future," said Andrew Anagnost,
Autodesk president and CEO. "An estimated $1.9 trillion is required to address global water
infrastructure needs by 2030, and by fundamentally changing the way
systems are designed, constructed, and operated, we are best
positioned to overcome this challenge and realize the better world
we've imagined."
"Nearly nine trillion gallons of water are lost each year
worldwide due to prolonged leaks and pipe breaks, but we cannot
manage or fix what we cannot see," said Amy
Bunszel, Executive Vice President, AEC Design Solutions at
Autodesk. "Innovyze's portfolio of operational analytics,
distribution modeling, and asset management solutions provides the
insight needed to identify this and other potential problems before
they become a crisis."
"For thirty-five years Innovyze has been a hidden part of the
daily lives of millions of people around the world, helping to
deliver fresh, clean water, managing sewage and flooding in our
communities, and turning wastewater into safe water," said
Colby Manwaring, CEO of Innovyze.
"Similarly, if you look at the built world around us, Autodesk's
design DNA is found in just about every structure you see above
ground and below, so it makes strategic sense to bring together our
complementary organizations critical to much of the world's
population. We look forward to completing the acquisition and
getting to work, together."
For more information on the acquisition, please see the
accompanying PDF here.
The transaction is subject to customary closing conditions and
is expected to close during Autodesk's first quarter of Fiscal Year
2022, ending April 30, 2021.
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.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks and uncertainties, including statements regarding:
the planned acquisition of Innovyze and the timing thereof, the
impact of the acquisition on Autodesk's business performance; the
impact of the transaction on Autodesk's and Innovyze's products and
services capabilities, customers, and partners; and Autodesk's
strategic priorities.
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; the impact
of climate change and population growth; changes in Innovyze's
customer base or geographic footprint; whether the infrastructure
design and water industries evolve as anticipated; the competitive
environment in the design and water industries 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; unanticipated impact of accounting for
acquisitions; and the ability to satisfy the conditions to the
completion of the acquisition on the anticipated schedule, or at
all.
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.
Autodesk, the Autodesk logo, Civil 3D, and InfraWorks, 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 products and
services.
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SOURCE Autodesk, Inc.