Why Autodesk (ADSK) Is Buying Spacemaker For $240 Million

By Amit Chowdhry ● November 18, 2020
  • Autodesk, Inc. (NASDAQ: ADSK) recently announced it signed a definitive agreement to buy Spacemaker for $240 million net of cash. These are the details about the deal.

Autodesk, Inc. (NASDAQ: ADSK) recently announced it signed a definitive agreement to buy Spacemaker for $240 million net of cash. Based in Oslo, Norway, Spacemaker utilizes cloud-based, artificial intelligence (AI), and generative design to help architects, urban designers, and real estate developers make informed early-stage design decisions faster and enables improved opportunities for sustainability from the start. And by evaluating the best options from the outset, Spacemaker essentially helps architects maximize their clients’ long-term property investments. The transaction is subject to customary closing conditions and it is expected to close during Autodesk’s fourth quarter of fiscal 2021, ending January 31, 2021.

The acquisition of Spacemaker will provide Autodesk with a powerful platform for driving modern, user-centric automation – powered by AI – and accelerate outcome-based design capabilities for architects. And with Spacemaker, design professionals can rapidly create and evaluate options for a building or urban development. With artificial intelligence as a partner to the architect, the Spacemaker platform enables users to quickly generate, optimize, and iterate on design alternatives, all while considering design criteria and data such as terrain, maps, wind, lighting, traffic, zoning, etc.

Spacemaker quickly returns design alternatives optimized for the full potential of the site. And this leads to better outcomes from the start and allows designers to focus on the creative part of their professional work.

KEY QUOTES:

“Spacemaker is a lesson in the power of insights and automation, giving designers the ability to create and test urban design ideas in minutes. With two billion more people expected to call our planet home by 2050, speed of design and sustainability in urban planning must be priorities. Spacemaker technology offers a fundamental shift in how we imagine and build cities to keep people and the planet healthy.”

— Andrew Anagnost, CEO and President of Autodesk

“Our values are always reflected in the business decisions we make. The acquisition of Spacemaker demonstrates our commitment to the advancement of architects and the ability of designers to change the world for the better. Paired with our teams and complementary technology, Spacemaker’s transformational solution will empower designers to make more informed design decisions and help solve some of the greatest challenges ahead of us all.”

— Amy Bunszel, Senior Vice President for AEC Design Solutions at Autodesk

“Four years ago, we set out on a mission to help design, engineering and project teams reinvent the development of more sustainable cities and neighborhoods worldwide while maximizing the investment. Autodesk shares our goal to create a healthier planet for everyone and is uniquely positioned to more rapidly place our product in the hands of planning teams everywhere. This is a proud milestone for our team and those who supported us from the start.”

— Havard Haukeland, CEO and co-founder of Spacemaker

“Real-estate developers in Norway are at the forefront of the digital transformation in the building sector, resulting in increased project profitability, and critically, improving our ability to combat climate change with more sustainable real estate developments. Game-changers such as Spacemaker are part of the solution, and it is critical to give them the scale that they need in order to be impactful. As an early investor and adopter, I am incredibly pleased to see Spacemaker joining Autodesk and am looking forward to seeing Norwegian-born technology transform the industry at a global scale.”

— Daniel Kjørberg Siraj, CEO of OBOS