Acquisition Extends and Accelerates Autodesk Cloud-Based BIM (Building
Information Modeling) Solutions for Collaboration, Data and Lifecycle
SAN RAFAEL, Calif. & LAS VEGAS--(BUSINESS WIRE)--Nov. 30, 2011--
Autodesk University — Autodesk,
Inc. (NASDAQ:ADSK), a leader in 3D
design, engineering and entertainment software, announced that it
has signed a definitive agreement to acquire Horizontal
Systems, a provider of innovative cloud-based Building
Information Modeling (BIM) collaboration solutions for the
Architecture, Engineering, and Construction (AEC) industry. The
transaction is subject to customary closing conditions and is expected
to close in Autodesk’s fourth quarter of fiscal 2012 (which ends on Jan.
31, 2012). Terms of the transaction were not disclosed.
Horizontal Systems technology will be an important contributor to the Autodesk
360 for BIM vision for collaboration, data and lifecycle management,
which was announced yesterday at Autodesk University (see related
release). The acquisition of Horizontal Systems will help accelerate the
movement of BIM to the cloud by providing users with the ability to more
easily access and coordinate multi-discipline project data wherever and
whenever it is needed throughout the entire project lifecycle.
“Horizontal Systems technology will help accelerate our Autodesk 360 for
BIM capabilities by allowing multi-discipline teams to more easily
communicate and synchronize information--helping reduce waste and errors
during the design and construction of AEC projects and leading to
faster, more efficient project delivery,” said Jim Lynch, vice
president, Architecture, Engineering and Construction Solutions,
Autodesk. “The integration of Horizontal Systems technology with other
Autodesk BIM solutions will streamline business processes and workflows
for increased efficiency, improved profitability, and higher quality
outcomes for both Autodesk and Horizontal Systems customers.”
Horizontal Glue brings BIM to the cloud with technology that supports
multi-discipline model collaboration and intelligent object data
exchange for the building and infrastructure industries. This approach
enables architects, engineers, owners and builders across the globe to
collaborate in real time in over 40 different 3D formats, while
providing a solution to distribute BIM data into external business
“Autodesk has long been a valued business partner, sharing our
dedication to advancing BIM across multi-discipline teams, workflows,
and projects,” said Jordan Brandt, CEO and Cofounder at Horizontal
Systems. “Our customers will experience the benefit of ‘gluing’ together
Horizontal Systems’ cloud technology with the comprehensive portfolio of
Autodesk BIM software. The Autodesk 360 for BIM vision is a perfect fit
for our customers, as this integrated and flexible strategy makes it
easier than ever for everyone to collaborate.”
Autodesk intends to integrate Horizontal Systems solutions into its
Autodesk 360 for BIM solution. During the transition, Autodesk will
continue to fully support existing Horizontal Systems customers.
This transaction is expected to have no impact on guidance issued on
Nov. 15, 2011.
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 financial results, business performance
and product and services offerings; Autodesk's commitments to Horizontal
Systems’s customers; and the impact of the combined product
capabilities, how Autodesk’s products and services will evolve and
change, and of the integration of Horizontal Systems’s products into
Autodesk products. Factors that could cause actual results to differ
materially include the following: difficulties encountered in closing
the acquisition of Horizontal Systems and integrating Horizontal
Systems’s business, including its customers, vendors and employees;
costs related to the proposed acquisition; whether certain market
segments grow as anticipated; the competitive environment in the
software industry and competitive responses to the acquisition; our
success developing new products or modify existing products and the
degree to which these gain market acceptance; general market and
business conditions; the timing and degree of expected investments in
growth opportunities; failure to achieve; pricing pressure; failure to
achieve continued cost reductions and productivity increases; changes in
the timing of product releases and retirements; failure of key new
applications to achieve anticipated levels of customer acceptance;
failure to achieve continued success in technology advancements;
interruptions or terminations in the business of our consultants or
third party developers; the expense and impact of legal or regulatory
proceedings; and unanticipated impact of accounting for acquisitions.
Further information on potential factors that could affect the financial
results of Autodesk are included in the company's annual report on Form
10-K for the year ended January 31, 2011, and Form 10-Q for the quarter
ended July 31, 2011, which are on file with the Securities and Exchange
Commission. Autodesk does not assume 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.
About Autodesk 360 for BIM
Autodesk 360 for BIM provides solutions for collaboration, data and
lifecycle management for the Architecture, Engineering, and Construction
(AEC) industry. By providing diverse, distributed teams with secure,
easy-to-use and fast-to-deploy solutions, Autodesk 360 for BIM makes
project data available across the project lifecycle, wherever and
whenever it is needed. Enabled by Autodesk
Cloud and integrated with design and business applications, Autodesk
360 for BIM streamlines business processes and workflows for increased
efficiency, improved profitability, and higher quality outcomes.
About Horizontal Systems
Horizontal Systems is a global cloud technology company focused on the
needs of design firms, construction companies and building owners.
Through unique web streaming Building Information Modeling (BIM)
technology, Horizontal unites all project stakeholders in a live
collaborative 3D environment for more effective and efficient
coordination. With accessible, intelligent BIM data hosted on an open
platform, Horizontal Systems’ clients leverage seamless workflows across
project and facilities management systems for a truly integrated
building enterprise. Horizontal Systems was incorporated in 2009 and is
based in New York, New York.
About Autodesk University
Now in its 19th year, Autodesk University is the annual series of
Autodesk in-person and virtual user conferences, which include the
flagship Autodesk University event in Las Vegas, Autodesk University
China, Autodesk University Japan and Autodesk University Brazil, as well
as associated online content available through Autodesk University
Virtual. The 2011 events will bring together 200,000 designers,
engineers, architects and digital artists together to explore the “Power
of the Possible”. More information is available at the Autodesk
University web site.
Autodesk, Inc., is a leader in 3D
design, engineering and entertainment software. Customers across the
manufacturing, architecture, building, construction, and media and
entertainment industries -- including the last 16 Academy Award winners
for Best Visual Effects -- use Autodesk software to design, visualize
and simulate their ideas. Since its introduction of AutoCAD software in
1982, Autodesk continues to develop the broadest portfolio of
state-of-the-art software for global markets. 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. Academy Award is a
registered trademark of the Academy of Motion Picture Arts and Sciences.
All other brand names, product names or trademarks belong to their
respective holders. Autodesk reserves the right to alter product and
services 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.
© 2011 Autodesk, Inc. All rights reserved.
Source: Autodesk, Inc.
Brett Smith, 415-547-2405