- Autodesk, Inc. (NASDAQ: ADSK) recently announced it has signed a definitive agreement to buy Innovyze for $1 billion. These are the details.
Autodesk, Inc. (NASDAQ: ADSK) recently announced it has signed a definitive agreement to buy Portland, Oregon-based Innovyze, a global leader in water infrastructure software, for $1 billion net of cash subject to working capital and tax closing adjustments. This acquisition positions Autodesk as a technology leader in end-to-end water infrastructure solutions from design to operations, accelerates Autodesk’s digital twin strategy, and creates a clearer path to a more sustainable and digitized water industry.
Innovyze’s modeling, simulation, and predictive analyses solutions enables more cost-effective and sustainably designed water distribution networks, water collection systems, water and wastewater treatment plants, and flood protection systems. And Innovyze’s solutions centralize infrastructure asset visibility to optimize capital and operational expenses. By combining Innovyze’s portfolio with the power of Autodesk’s design and analysis solutions, including Autodesk Civil 3D, Autodesk InfraWorks, and the Autodesk Construction Cloud, it offers civil engineers, water utility companies and water experts the ability to better respond to issues and to improve planning.
For 35 years, Innovyze has been developing innovative software for the water industry and is trusted by about 3,000 customers worldwide, including utility companies in many of the most populous cities across 5 continents, a majority of ENR’s top design firms, and leading environmental and engineering consultancies. This is important since over 2 billion people lack access to safe drinking water at home and by 2025, more than two-thirds of the world’s population will reside in water-stressed areas.
The deal is subject to customary closing conditions and is expected to close during Autodesk’s first quarter of Fiscal Year 2022, ending April 30, 2021.
KEY QUOTES:
“We can achieve a more sustainable planet, but we can’t do it without responsibly managing our use of water and securing its future. An estimated $1.9 trillion is required to address global water infrastructure needs by 2030, and by fundamentally changing the way systems are designed, constructed, and operated, we are best positioned to overcome this challenge and realize the better world we’ve imagined.”
— Andrew Anagnost, Autodesk president and CEO
“Nearly nine trillion gallons of water are lost each year worldwide due to prolonged leaks and pipe breaks, but we cannot manage or fix what we cannot see. Innovyze’s portfolio of operational analytics, distribution modeling, and asset management solutions provides the insight needed to identify this and other potential problems before they become a crisis.”
— Amy Bunszel, Executive Vice President, AEC Design Solutions at Autodesk
“For thirty-five years Innovyze has been a hidden part of the daily lives of millions of people around the world, helping to deliver fresh, clean water, managing sewage and flooding in our communities, and turning wastewater into safe water. Similarly, if you look at the built world around us, Autodesk’s design DNA is found in just about every structure you see above ground and below, so it makes strategic sense to bring together our complementary organizations critical to much of the world’s population. We look forward to completing the acquisition and getting to work, together.”
— Colby Manwaring, CEO of Innovyze
