SAN RAFAEL, Calif., Feb 17, 2011 (BUSINESS WIRE) --
Autodesk,
Inc., (NASDAQ:ADSK), a leader in 3D
design, engineering and entertainment software, announced that it
has signed a definitive agreement to acquire Blue Ridge Numerics, Inc.,
a leading provider of simulation software, for approximately $39 million
in cash. The transaction is subject to customary closing conditions and
is expected to close in Autodesk's first quarter of fiscal 2012 (which
ends on April 30, 2011).
Charlottesville, Virginia-based Blue Ridge Numerics' CFdesign technology
will be an important addition to the Autodesk simulation software
portfolio for manufacturers, which currently includes Autodesk
Inventor, Autodesk
Algor Simulation and Autodesk
Moldflow. It will broaden the Autodesk solution for Digital
Prototyping to provide customers with a spectrum of computational
fluid dynamics (CFD) capabilities that help automate fluid flow and
thermal simulation decision-making for designs, while eliminating costly
physical prototyping cycles.
"Simulation represents a significant growth area for Autodesk, and we
are focused on strengthening our portfolio in this area both organically
and through acquisitions," said Robert "Buzz" Kross, senior vice
president of the Manufacturing Industry Group at Autodesk. "The
acquisition of Blue Ridge Numerics will add important new simulation
capabilities to virtually test and predict how a product or building
design will work, allowing our customers to compete more effectively at
every step of the design process."
"Since 1992, Blue Ridge Numerics' comprehensive CFD tools have helped
engineers improve quality, accelerate time-to-market and drive
profitability," said Ed Williams, president and co-founder of Blue Ridge
Numerics. "Autodesk is a valued business partner, and the combination of
both companies' proven Digital Prototyping technologies will help
customers worldwide tackle complex engineering challenges and ultimately
be more successful with their designs."
Proposed Integration
Blue Ridge Numerics' CFdesign software allows mechanical and building
system engineers to virtually test and predict real-world behavior of
new and existing designs and eliminate expensive physical prototyping
cycles in the lab. Its CFD software allows engineers to make informed,
up-front decisions about air flow, fluid flow or electronics cooling to
help design and manufacture safer, quality products or construct more
energy efficient buildings.
Blue Ridge Numerics has successfully broken down technological barriers
that previously prevented the integration of CFD within the mainstream
product development process. The company's robust, general-purpose
analytical engine produces accurate simulations set up within a range of
CAD systems with little human time or simulation experience required.
Upon completion of the acquisition, Autodesk's intent is to integrate
Blue Ridge Numerics into its Manufacturing Industry Group and to
continue developing and selling Blue Ridge Numerics CFdesign products,
supporting Blue Ridge Numerics customers and integrating them into the
Autodesk Manufacturing Community. Autodesk is also committed to continue
developing the Blue Ridge Numerics products with a multi-CAD approach,
allowing direct data exchange between CFdesign products and multiple
computer aided design software offerings.
Business Outlook
This transaction is expected to decrease Autodesk's GAAP diluted
earnings per share in its fiscal first quarter of fiscal 2012 by
approximately $0.01 and non-GAAP diluted earnings per share by
approximately $0.01. For the full year fiscal 2012, this transaction is
expected to decrease Autodesk's GAAP diluted earnings per share by
approximately $0.02-$0.03 and non-GAAP diluted earnings per share by
approximately $0.01-$0.02. Non-GAAP diluted earnings per share exclude
$0.01 for amortization of acquisition related intangibles, net of tax.
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, business performance
and product offerings; Autodesk's commitments to Blue Ridge Numerics
customers; and the impact of the combined product capabilities. Factors
that could cause actual results to differ materially include the
following: difficulties encountered in closing the acquisition of Blue
Ridge Numerics and integrating Blue Ridge Numerics' 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, 2010, and Form 10-Q for the quarter
ended October 31, 2010, 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 Blue Ridge Numerics
Blue Ridge Numerics, Inc. is a Global Environment Fund portfolio company
and has been consistently ranked among the fastest-growing technology
companies in North America. The company's CFdesign upfront CFD software
integrates comprehensive fluid-flow and heat-transfer simulation into
early phases of design and engineering, when companies can dramatically
improve product quality, time-to-market, and ultimately profitability
through the product life cycle. Learn more about CFD technology and best
practices for implementation at: www.upfrontcfd.com.
About Autodesk
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 15 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.
Algor, Autodesk, AutoCAD, Autodesk Inventor, Inventor and Moldflow
are registered trademarks of Autodesk, Inc., and/or its subsidiaries
and/or affiliates 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.
Autodesk, Inc.
Clay Helm, 415-547-2425 (Media)
clay.helm@autodesk.com
or
David Gennarelli, 415-507-6033 (Investors)
david.gennarelli@autodesk.com
