Autodesk Completes Acquisition of NavisWorks
Acquisition of NavisWorks to Enhance Autodesk Solutions for Construction and Plant Design Industries and Improve InteroperabilitySAN 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."
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.
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.
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SOURCE Autodesk, Inc.