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.
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.