Horizontal Systems Extends and Accelerates Autodesk Cloud-Based Building Information Modeling Solutions for Collaboration, Data and Lifecycle Management
SAN RAFAEL, Calif. — (BUSINESS WIRE) — December 16, 2011 — Autodesk, Inc. (NASDAQ: ADSK), a leader in 3D design, engineering and entertainment software, announced that it has completed the acquisition of Horizontal Systems, a provider of innovative cloud-based Building Information Modeling (BIM) collaboration solutions for the Architecture, Engineering and Construction (AEC) industry. Autodesk announced its intent to purchase Horizontal Systems on Nov. 30, 2011.
Horizontal Systems technology will be an important contributor to the Autodesk 360 for BIM solution for collaboration, data and lifecycle management. By providing diverse, distributed teams with more secure, easy-to-use and fast-to-deploy solutions, Autodesk 360 for BIM makes project data available across the project lifecycle, wherever and whenever it is needed.
“The acquisition of Horizontal Systems will help accelerate the movement of BIM to the cloud by providing our customers with a more complete, more accurate, digital view of their projects and with access to information across the project lifecycle from wherever they need it — the office, the web or the field,” said Jim Lynch, vice president, Architecture, Engineering and Construction Solutions, Autodesk. “The integration of Horizontal Systems technology with other Autodesk BIM solutions will streamline business processes and workflows for increased efficiency, improved profitability and higher-quality outcomes for both Autodesk and Horizontal Systems customers.”
This transaction is expected to have no impact on guidance issued on Nov. 15, 2011.
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 financial results, business performance and product offerings; the combined product capabilities; and efficiency, quality and financial benefits derived by users and customers of Autodesk software solutions. Factors that could cause actual results to differ materially include the following: difficulties encountered in integrating Horizontal Systems’ technology, business, including its customers, vendors and employees; costs related to the acquisition; whether certain market segments grow as anticipated; the competitive environment in the software industry and competitive responses to the acquisition; our success developing new products or modifying existing products and the degree to which these gain market acceptance; general market and business conditions; the timing and degree of expected investments in growth opportunities; pricing pressure; failure to achieve continued cost reductions and productivity increases; changes in the timing of product releases and retirements; failure of key new applications to achieve anticipated levels of customer acceptance; failure to achieve continued success in technology advancements; interruptions or terminations in the business of our consultants or third-party developers; the expense and impact of legal or regulatory proceedings; and unanticipated impact of accounting for acquisitions.
Further information on potential factors that could affect the financial results of Autodesk are included in the company's annual report on Form 10-K for the year ended Jan. 31, 2011, and Form 10-Q for the quarter ended Oct. 31, 2011, which are on file with the Securities and Exchange Commission. Autodesk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Autodesk, Inc., is a leader in 3D design, engineering and entertainment software. Customers across the manufacturing, architecture, building, construction, and media and entertainment industries – including the last 16 Academy Award winners for Best Visual Effects – use Autodesk software to design, visualize and simulate their ideas. Since its introduction of AutoCAD software in 1982, Autodesk continues to develop the broadest portfolio of state-of-the-art software for global markets. For additional information about Autodesk, visit www.autodesk.com.
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