SAN FRANCISCO, February 24, 2021 – Autodesk, Inc. (NASDAQ: ADSK), announced today that it has reached a definitive agreement to acquire Innovyze, Inc., a renowned global provider of water infrastructure software based in Portland, Oregon. The deal is valued at $1 billion, net of cash, subject to typical working capital and tax adjustments upon closing. This acquisition not only strengthens Autodesk's position as a technological powerhouse in comprehensive water infrastructure solutions but also propels its digital twin strategy forward, paving the way for a more sustainable and digitized water sector.
"Autodesk has successfully completed the acquisition of Innovyze. To stay updated with the latest developments, check out the official announcement here," reads a recent quote from the company.
Innovyze’s suite of modeling, simulation, and predictive analysis tools enables more efficient and eco-friendly design of water distribution networks, collection systems, treatment facilities, and flood defense structures. Additionally, its solutions provide centralized insights into infrastructure assets, optimizing both capital and operational expenditures. By integrating Innovyze's offerings with Autodesk's robust design and analysis platforms—such as Civil 3D, InfraWorks, and the Construction Cloud—civil engineers, water utilities, and industry experts gain enhanced capabilities to address challenges and enhance planning efforts.
Since its inception 35 years ago, Innovyze has developed pioneering software for the water industry, trusted by approximately 3,000 clients globally, including major utility providers in populous cities across five continents, many of ENR's top design firms, and prominent environmental and engineering consultancies.
Today, over two billion individuals lack access to safe drinking water within their homes, and by 2025, more than two-thirds of the global population will inhabit water-stressed regions.
"We can build a more sustainable planet, but it requires responsible water usage and securing its future," stated Andrew Anagnost, Autodesk's president and CEO. "By 2030, an estimated $1.9 trillion will be necessary to meet global water infrastructure demands, and through transformative approaches to system design, construction, and operation, we are well-positioned to tackle this challenge and realize the better world we envision."
"Around nine trillion gallons of water are lost annually due to prolonged leaks and pipe ruptures, yet effective management or repairs require visibility into these issues," noted Amy Bunszel, Executive Vice President of AEC Design Solutions at Autodesk. "Innovyze’s operational analytics, distribution modeling, and asset management solutions offer the clarity needed to identify such problems before they escalate into crises."
"For three decades, Innovyze has quietly played a vital role in the everyday lives of millions worldwide, ensuring the delivery of clean drinking water, managing sewage and flood control in communities, and transforming wastewater into safe resources," shared Colby Manwaring, Innovyze's CEO. "Similarly, Autodesk’s design legacy is embedded in nearly every structure visible above and below ground. Thus, uniting our complementary organizations aligns strategically with global population needs. We’re excited to finalize this acquisition and collaborate closely moving forward."
For additional details on this acquisition, refer to the accompanying PDF document.
The transaction remains contingent on standard closure prerequisites and is anticipated to conclude during Autodesk's first fiscal quarter of 2022, concluding on April 30, 2021.
About Autodesk:
Autodesk crafts software for creators who craft things. Whether it’s driving高性能 cars, marveling at towering skyscrapers, using smartphones, or enjoying great films, countless users have interacted with what millions of Autodesk customers achieve via their software. With Autodesk, you have the capability to create anything imaginable. Learn more at autodesk.com or follow @autodesk.
Safe Harbor Statement:
This press release includes forward-looking statements involving risks and uncertainties, including expectations regarding the planned Innovyze acquisition, the integration timeline, the impact on Autodesk’s performance, the combined product and service offerings, customer and partner impacts, and Autodesk’s strategic goals.
Potential factors that could significantly influence outcomes include Autodesk’s capacity to smoothly integrate Innovyze’s operations, associated costs, climate change and population growth effects, shifts in Innovyze’s customer base or geographic presence, industry evolution predictions, competitive responses to the acquisition, product development success rates, general market dynamics, unforeseen accounting implications, and meeting the acquisition conditions within the intended timeframe.
Further insights into factors impacting Autodesk’s financial results can be found in its Form 10-K and subsequent Forms 10-Q filed with the U.S. Securities and Exchange Commission. Autodesk disclaims responsibility for updating forward-looking statements reflecting post-event occurrences or conditions.
Trademark Information:
Autodesk, the Autodesk logo, Civil 3D, and InfraWorks are either registered trademarks or trademarks of Autodesk, Inc., or its subsidiaries and affiliates in the U.S. and other countries. Other brand names, product names, or trademarks belong to respective owners. Autodesk reserves rights to modify products and services.
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