Addition of Industry Leading CAM Software to Accelerate Development of
Technology for Advanced Manufacturing
SAN RAFAEL, Calif. & BIRMINGHAM, England--(BUSINESS WIRE)--Feb. 6, 2014--
Autodesk,
Inc. (NASDAQ:ADSK) has completed the acquisition of Delcam,
one of the world’s leading suppliers of
advanced computer-aided manufacturing (CAM) software. Autodesk announced
its intent to acquire Delcam on November 7, 2013 for £20.75 per
share or approximately £172.5 million (~USD $286 Million), using
non-U.S.-based cash. Delcam will operate as a wholly owned,
independently operated subsidiary of Autodesk, with
no significant changes planned for Delcam’s business.
“Autodesk brings to Delcam increased financial strength, unparalleled
expertise in design, and a long history of making technology accessible
to broad audiences. Through sharing our technology and expertise, this
transaction will transform industries and improve how the world is
designed and made,” said Clive Martell, Delcam chief executive officer.
“By maintaining the basic structure of Delcam’s business, Autodesk is
reflecting its trust in and respect for Delcam’s solutions, leadership
and organization, and we are excited to come together and further the
vision, development and implementation of technology for digital
manufacturing.”
Headquartered in Birmingham, UK, Delcam’s range of design, manufacturing
and inspection software provides automated CADCAM solutions for a
variety of industries, ranging from aerospace and automotive to toys and
sports equipment. The company has more than 30 offices worldwide and
approximately 700 employees.
“The acquisition of Delcam is an important step in Autodesk’s continued
expansion into manufacturing and fabrication and beyond our roots in
design. Together with Delcam we look forward to accelerating the
development of a more comprehensive Digital Prototyping solution and
delivering a better manufacturing experience,” said Buzz
Kross, senior vice president for Design, Lifecycle and Simulation
products. “We welcome the Delcam employees, customers, partners and
community to Autodesk.”
Business Outlook
This transaction is expected to have no impact on Autodesk’s guidance
issued on November 26, 2013. Autodesk expects this transaction to be
dilutive to its non-GAAP earnings in fiscal 2015 and accretive to its
non-GAAP earnings in fiscal 2016*. The company will provide more details
about the impact of the transaction on its fourth quarter conference
call, currently scheduled for February 26, 2014.
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,
manufacturing industry product and services offerings; and the impact of
the transaction on Autodesk's and Delcam’s manufacturing products and
services capabilities, customers and partners, and industry
transformations. Factors that could cause actual results to differ
materially include the following: difficulties encountered in
integrating merged businesses; costs related to the acquisition; whether
certain markets grow as anticipated; the competitive environment in the
manufacturing industry and competitive responses to the acquisition;
Autodesk and Delcam’s success developing new products or modifying
existing products and the degree to which these gain market acceptance;
general market and business conditions; 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,
2013, and Form 10-Q for the quarter ended October 31, 2013, 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.
* This statement regarding earnings is not intended to be a profit
forecast and should not be interpreted to mean that the earnings per
Autodesk share for the current or future financial periods will
necessarily be greater than those for the relevant preceding financial
period. Autodesk is not able to provide statements regarding dilution of
or accretion to GAAP earnings at this time because of the difficulty of
estimating certain items that are excluded from non-GAAP earnings, such
as charges related to stock-based compensation expense and amortization
of acquisition related intangibles, the effect of which may be
significant.
About Autodesk
Autodesk helps people imagine, design and create a better world.
Everyone—from design professionals, engineers and architects to digital
artists, students and hobbyists—uses Autodesk software to unlock their
creativity and solve important challenges. For more information visit autodesk.com or
follow @autodesk.
Autodesk is a registered trademark of Autodesk, Inc., and/or its
subsidiaries and/or affiliates 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 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.
© 2014 Autodesk, Inc. All rights reserved.
Source: Autodesk
Autodesk
Media Contact:
Noah Cole, +1 415-580-3535
noah.cole@autodesk.com
Investor
Contact:
David Gennarelli, +1 415-507-6033
david.gennarelli@autodesk.com
or
Delcam
Media
Contact:
Peter Dickin, +44 121 683 1081
pjd@delcam.com