Autodesk, Inc. (NASDAQ: ADSK) announced at the end of February the signing of a definitive agreement to acquire Innovyze, Inc., based in Portland, Oregon (USA), a global leader in water infrastructure software, for US$ 1 billion net cash, the amount being subject to working capital and tax adjustments. The acquisition positions Autodesk as a technology leader in end-to-end water infrastructure solutions, from design to operations, accelerates Autodesk's dual digital strategy and creates a clearer path to a more sustainable and digitized water industry.
Innovyze's modeling, simulation and predictive analysis solutions enable more economically and sustainably designed water distribution networks, water collection systems, water and sewage treatment plants and flood protection systems. In addition, Innovyze solutions centralize the visibility of infrastructure assets to optimize operating and capital expenditures. Combining the Innovyze portfolio with the power of Autodesk design and analysis solutions, including Autodesk Civil 3D, Autodesk InfraWorks and Autodesk Construction Cloud, gives civil engineers, water service companies and water experts the ability to better respond to problems and increase planning.
For 35 years, Innovyze has been building innovative software for the water industry and is trusted by approximately 3,000 customers worldwide, including utility companies in many of the most populous cities on the five continents, most of the major water utilities. ENR design, environmental leaders and engineering consultancies.
Today, more than two billion people do not have access to drinking water at home, and by 2025, more than two-thirds of the world's population will reside in areas with water scarcity.
“We can achieve a more sustainable planet, but we cannot do this without responsibly managing our water use and ensuring its future,” said Andrew Anagnost, president and CEO, Autodesk. “It is estimated that US$ 1.9 trillion is needed to meet global water infrastructure needs by 2030 and, by fundamentally changing the way systems are designed, built and operated, we will be better positioned to overcome this challenge and realize the better world than we imagine ”.
"Nearly nine trillion gallons of water are lost each year worldwide due to prolonged leaks and pipe ruptures, but we cannot manage or fix what we cannot see," said Amy Bunszel, executive vice president, AEC Design Autodesk Solutions. “Innovyze's portfolio of operational analysis, distribution modeling and asset management solutions provides the insight needed to identify this and other potential problems before they become a crisis.”
“For thirty-five years, Innovyze has been a hidden part of the daily lives of millions of people around the world, helping to provide clean and fresh water, managing sewage and flooding in our communities and transforming wastewater into safe water”, said Colby Manwaring, CEO of Innovyze. “Likewise, if you look at the world built around us, Autodesk’s design DNA is found in almost every structure you see above and below ground, so it makes strategic sense to bring together our essential complementary organizations for great part of the world population. We hope to complete the acquisition and start working together. ”
The transaction is subject to customary closing conditions and is expected to close during the first quarter of Autodesk's 2022 fiscal year, which ended on April 30, 2021.
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