Acquisition of NavisWorks to Enhance Autodesk Solutions for Construction and Plant Design Industries and Improve Interoperability
SAN RAFAEL, Calif., Aug 09, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Autodesk, Inc.
(Nasdaq: ADSK) today announced it has completed the acquisition of NavisWorks
for a purchase price of $26 million, plus a working capital adjustment.
NavisWorks is a privately-held company based in Sheffield, England, that
provides software for 3D coordination, collaboration and sequencing in design
and construction. This acquisition extends Autodesk's 3D software leadership
in the architecture, engineering, construction (AEC), shipbuilding, and plant
design industries.
Autodesk and NavisWorks plan to jointly develop and deliver an even more
comprehensive suite of solutions for design and construction. The addition of
NavisWorks technology to the Autodesk portfolio will help enable Autodesk
customers to aggregate design information from multiple platforms, including
both Autodesk and non-Autodesk solutions.
"The acquisition of NavisWorks demonstrates Autodesk's efforts to redefine
design and extend the value of design data," said Jay Bhatt, senior vice
president, Autodesk AEC Solutions. "Autodesk remains committed to providing
the industry with tools like NavisWorks that help AEC professionals
consolidate disparate forms of data in order to execute on their mission
critical workflows."
Business Outlook
This transaction is expected to decrease targeted GAAP earnings per
diluted share by $0.01 in fiscal 2008. Excluding in-process R&D expenses and
the amortization of acquisition-related intangibles, this transaction is
expected to have no impact on targeted non-GAAP earnings per diluted share for
fiscal 2008.
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 per share, 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 reports on Form 10-K for the
year ended January 31, 2007, and Form 10-Q for the quarter ended April 30,
2007 which are on file with the Securities and Exchange Commission.
About Autodesk
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,
visit www.autodesk.com.
Autodesk and AutoCAD 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.
Press Contact: Noah Cole, +1-503-707-3872
Email: noah.cole@autodesk.com
Press Contact: Elizabeth Bennett, +1-503-471-6831
Email: elizabeth.bennett@edelman.com
SOURCE Autodesk, Inc.
http://www.autodesk.com
