Acquisition to Enable Construction, Plant Design and Marine Design Customers to Leverage Building Information Modeling and Digital Prototypes for Increased Productivity and Collaboration
SAN RAFAEL, Calif., May 31, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Autodesk, Inc.
(Nasdaq: ADSK) today announced that it has signed an agreement to acquire
NavisWorks, a privately-held company based in Sheffield, England that provides
software for 3D coordination, collaboration and sequencing in design and
construction for approximately $25 million in USD cash, subject to a working
capital adjustment. The acquisition underscores Autodesk's commitment to help
its customers derive the greatest possible value from the information created
during all phases of the design process.
NavisWorks is a global provider of software that enables full exploitation
of the benefits of 3D digital designs in the construction, plant and marine
design markets for purposes ranging from design coordination and clash
detection to construction simulations. Its products are used by many of the
world's leading construction companies, architects, engineers, process and
power firms and shipbuilders. NavisWorks products support increased
interoperability by coordinating design information from multiple sources.
The company is also a Charter Member of the USA National BIM standard.
Autodesk currently plans to offer new solutions that incorporate both
NavisWorks and Autodesk technology, and to continue supporting the existing
NavisWorks product line
"The acquisition of NavisWorks is part of Autodesk's commitment to
offering more complete solutions across the AEC industry" said Jay Bhatt,
senior vice president, Autodesk AEC Solutions. "The addition of NavisWorks
technology to the Autodesk portfolio will help our customers leverage their
design data to make better design and construction decisions and increase the
value of their investments in design technology."
"For more than 7 years, NavisWorks solutions have helped design
professionals across the construction, building, plant, and marine industries
better collaborate, create more coordinated designs, and work more
efficiently," said Peter Thompson, CEO of NavisWorks. "The combination of
NavisWorks and Autodesk technology is an excellent match. Our products
augment the coordinated, consistent, and computable information produced by
the Revit platform for building information modeling, and can aggregate that
information with data from other sources including AutoCAD, Inventor and Civil
3D, to build the most complete understanding possible of the overall project.
We are excited to join the Autodesk family."
This transaction is expected to have no impact on targeted non-GAAP EPS
for fiscal 2008. Non-GAAP EPS excludes in-process R&D expenses and the
amortization of acquisition-related intangibles. Autodesk is currently unable
to provide estimates of the future impact of this transaction on GAAP earnings
Safe Harbor Statement
This press release contains forward-looking statements that involve risks
and uncertainties, including statements regarding the impact of the
acquisition on Autodesk's earnings, product offerings and the performance of
its business. Factors that could cause actual results to differ materially
include the following: difficulties encountered in integrating merged
businesses; whether certain market segments grow as anticipated; the
competitive environment in the software industry and competitive responses to
the acquisition; and whether the companies can successfully develop new
products or modify existing products and the degree to which these gain market
Further information on potential factors that could affect the financial
results of Autodesk are included in the company's reports on Form 10-K for the
year ended January 31, 2006, and Form 10-Q for the quarter ended April 30,
2006 which are on file with the Securities and Exchange Commission.
Autodesk, Inc. is the world leader in 2D and 3D design software for the
manufacturing, building and construction, and media and entertainment markets.
Since its introduction of AutoCAD software in 1982, Autodesk has developed the
broadest portfolio of state-of-the-art digital prototyping solutions to help
customers experience their ideas before they are real. Fortune 1000 companies
rely on Autodesk for the tools to visualize, simulate and analyze real-world
performance early in the design process to save time and money, enhance
quality and foster innovation. For additional information about Autodesk,
Autodesk, AutoCAD Civil 3D, Inventor and Revit are registered trademarks
or trademarks of Autodesk, Inc., 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 offerings and specifications at
any time without notice, and is not responsible for typographical or graphical
errors that may appear in this document.
SOURCE Autodesk, Inc.
Press, Noah Cole, +1-503-612-2448, firstname.lastname@example.org, Investors, Sue Pirri,
+1-415-507-6467, email@example.com, both of Autodesk, Inc.