Acquisition to Accelerate Autodesk's Ability to Deliver Comprehensive
Solutions for the Building and Construction Industries
SAN RAFAEL, Calif., Feb. 7 /PRNewswire-FirstCall/ -- Autodesk, Inc.
(Nasdaq: ADSK) today announced it has signed a definitive agreement to acquire
Constructware for $46 million USD in cash, subject to a working capital
adjustment. Constructware, privately held and based in Alpharetta, Georgia,
provides on-demand communication and collaboration solutions that streamline
design, construction and facility project management. Expected to close in
March 2006, the acquisition enables Autodesk to rapidly expand its
collaborative project management solution, Autodesk(R) Buzzsaw(R), with
Constructware's industry leading cost, bid and risk management capabilities.
The acquisition, which is subject to various closing conditions, will allow
Autodesk to more completely meet the needs of its customers and supports its
strategy to deliver collaborative project management solutions on-demand.
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"Increasingly, we are seeing demand from our customers to offer a
complete, integrated solution for building and construction project
lifecycles," said Amar Hanspal, vice president of Autodesk Collaborative
Solutions. "Constructware's strong presence among general contractors and
their proven product offerings complements our collaborative project
management solutions and reinforces our commitment to delivering industry
leading on-demand solutions for the building and construction industries."
Constructware, founded in 1994, is a nationally recognized provider of
collaborative technology solutions for the construction industry. Its products
have been adopted by over 29,000 users and include Constructware ASP and
Constructware for the Subcontractor. The company is well established in the
construction industry with general- and sub-contractors and has demonstrated
significant traction in the public sector among government and education
organizations. This is complementary to Autodesk Buzzsaw's customer base in
home building, and the retail and hospitality segments of the commercial real
Autodesk Buzzsaw is a leading collaborative project management solution
with over 137,000 users from mid-size companies to Fortune 500 companies.
Autodesk plans to invest in supporting, enhancing and integrating the
Constructware products with Autodesk's collaborative project management
solution, Buzzsaw, and design applications including Revit and Civil 3D. Our
joint commitment to working closely with customers and understanding market
requirements will ensure that we develop and deliver a comprehensive
collaborative project management solution that meets the requirements of
customers and markets served by both companies.
"Autodesk and Constructware have always shared a common vision of
fulfilling customer requirements as they pertain to the building lifecycle,
and our customers should expect the combined organization to accelerate
delivery of stronger, integrated and more complete industry-leading products,
solutions and services to meet that vision," said Scott Unger, president and
chief executive officer of Constructware. "Autodesk has a proven history in
the building technology market and has consistently innovated to meet the
needs of the building and construction industries. This acquisition will
benefit both Constructware's customers and the construction industry as a
Targeted non-GAAP EPS for this transaction, which excludes in-process R&D
expenses and the amortization of acquisition related intangibles is expected
to have no impact on earnings in fiscal 2007. Autodesk is currently unable to
provide estimates of the future impact of this transaction on GAAP earnings
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
Founded in 1982, Autodesk is headquartered in San Rafael, California. For
additional information about Autodesk, please visit www.autodesk.com.
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; uncertainties as to the timing of the acquisition; the
satisfaction of closing conditions to the transaction; whether certain market
segments grow as anticipated; the competitive environment in the software
industry and competitive responses to the proposed acquisition; and whether
the companies can successfully develop new 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, 2005 and Form 10-Q for the quarter ended October 31,
2005 which are on file with the Securities and Exchange Commission.
Contact: Jennifer Giles, 415-547-2458
Contact: Sue Pirri, 415-507-6467
SOURCE Autodesk, Inc.
firstname.lastname@example.org, both of Autodesk.
/Web site: http://www.autodesk.com