Acquisition Will Increase Collaborative Project Management Offerings From
Autodesk and Offer Building and Construction Customers Enhanced On-Demand
Project Management Solutions
SAN RAFAEL, Calif., March 31 /PRNewswire-FirstCall/ -- Autodesk, Inc.
(Nasdaq: ADSK), today announced it has completed the acquisition of
Constructware, a privately held company based in Alpharetta, Georgia that
provides on-demand communication and collaboration solutions that streamline
design, construction and facility management. The acquisition, announced on
February 7, 2006, closed for cash consideration of US $46 million. This
acquisition enables Autodesk to rapidly expand its Autodesk Buzzsaw
collaborative project management solution with Constructware software's
industry leading cost, bid and risk management capabilities. The acquisition
allows Autodesk to more completely meet the needs of its customers as they
realize their ideas through the use of on-demand collaborative project
management solutions.
Constructware, founded in 1994, is a nationally recognized provider of
collaborative technology solutions for the construction industry, with over
30,000 customers and subscribers worldwide, including Clark Construction Group
LLC, Abbott Laboratories, New York Metropolitan Transit Authority, Tiffany &
Company. The company is well established in the construction industry for
general and sub-contractors and has demonstrated significant traction in the
public sector among government and education organizations. Autodesk Buzzsaw
customers in home building and the retail and hospitality segments of the
commercial real estate market will benefit from the addition of Constructware
technology.
"Our industry relies on an on-demand collaborative project management
solution with the scalability to accurately share and review design and
construction data with a wide range of architects, contractors, construction
companies and vendors," said Steve Stankiewicz, Operations Support Manager of
Clark Construction Group, LLC. "Joining Autodesk is a great move for
Constructware. As customers, we will have access to a much broader technology
base and innovation that a $1.5 Billion company can offer-not to mention the
combined expertise that truly understands collaboration to help us share our
ideas and manage our processes effectively," added Stankiewicz.
"As the construction industry continues to grow, the need to complete
projects faster will only increase. To help our customers streamline their
collaborative project management needs, we're delivering on-demand
collaborative solutions that will work throughout the construction project
lifecycle," said Amar Hanspal, vice president of Autodesk Collaborative
Solutions. "With the acquisition of Constructware, Autodesk now has a more
robust offering of collaborative project management solutions and will
continue to be a market leader in the building and construction industries by
offering the most comprehensive solution available."
Autodesk Buzzsaw is the world's leading on-demand collaborative project
management solution with over 137,000 users from mid-size companies to Fortune
500 companies. Autodesk plans to make significant investments in supporting,
enhancing and integrating the Constructware products with Autodesk's
solutions, including Buzzsaw, Revit and Civil 3D.
Business Outlook
Targeted non-GAAP EPS for this transaction, which excludes the
amortization of acquisition related intangibles, is expected to have no impact
on earnings in fiscal 2007. Including $2.5M pre-tax of amortization of
acquisition related intangibles, Autodesk currently believes the acquisition
will be dilutive to GAAP earnings per share by $0.01 in fiscal 2007.
About Autodesk
Autodesk, Inc. is wholly focused on ensuring that great ideas are turned
into reality. With over seven million users, Autodesk is the world's leading
software and services company for the building, manufacturing, infrastructure,
media and entertainment and wireless data services fields. Autodesk's
solutions help customers create, manage and share their data and digital
assets more effectively. As a result, customers turn ideas into competitive
advantage by becoming more productive, streamlining project efficiency and
maximizing profits.
Founded in 1982, Autodesk is headquartered in San Rafael, California. For
additional information about Autodesk, please visit www.autodesk.com.
Autodesk, Inc.
Reconciliation of diluted net income per share on a GAAP basis to diluted
net income per share on a non-GAAP basis
Fiscal year ended January 31, 2007
Unaudited
Low end High end
of range of range
Diluted net income per share on a GAAP basis $1.12 $1.17
Stock based compensation expense in accordance
with SFAS No. 123R 0.28 0.28
Amortization of acquisition-related
intangibles - Alias 0.04 0.04
Amortization of acquisition-related
intangibles - Constructware 0.01 0.01
Diluted net income per share on a non-GAAP
basis - Autodesk and Constructware combined $1.45 $1.50
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
acceptance.
Further information on potential factors that could affect the financial
results of Autodesk are included in the company's report on Form 10-K for the
year ended January 31, 2006 which is on file with the Securities and Exchange
Commission.
NOTE: Autodesk, Buzzsaw, Civil 3D, Constructware 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.
Contact: Kevin G. Clark, 415-547-2457
Email: kevin.g.clark@autodesk.com
Autodesk Investor Relations
Contact: Sue Pirri, 415-507-6467
Email: sue.pirri@autodesk.com
SOURCE Autodesk, Inc.
-0- 03/31/2006
/CONTACT:
Kevin G. Clark,
+1-415-547-2457,
or kevin.g.clark@autodesk.com,
or Sue Pirri,
Investor Relations,
+1-415-507-6467,
or sue.pirri@autodesk.com,
both of Autodesk, Inc.
/Web site: http://www.autodesk.com
(ADSK)
