Autodesk agrees to acquire horizontal systems
San rafael, calif. & las vegas--(business wire)--autodesk university — autodesk, inc. (nasdaq:adsk), a leader in 3d design, engineering and entertainment software, announced that it has signed a definitive agreement to acquire horizontal systems, a provider of innovative cloud-based building information modeling (bim) collaboration solutions for the architecture, engineering, and construction (aec) industry. the transaction is subject to customary closing conditions and is expected to close in autodesk’s fourth quarter of fiscal 2012 (which ends on jan. 31, 2012). terms of the transaction were not disclosed. horizontal systems technology will be an important contributor to the autodesk 360 for bim vision for collaboration, data and lifecycle management, which was announced yesterday at autodesk university (see related release). the acquisition of horizontal systems will help accelerate the movement of bim to the cloud by providing users with the ability to more easily access and coordinate multi-discipline project data wherever and whenever it is needed throughout the entire project lifecycle. “horizontal systems technology will help accelerate our autodesk 360 for bim capabilities by allowing multi-discipline teams to more easily communicate and synchronize information--helping reduce waste and errors during the design and construction of aec projects and leading to faster, more efficient project delivery,” 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.” horizontal glue brings bim to the cloud with technology that supports multi-discipline model collaboration and intelligent object data exchange for the building and infrastructure industries. this approach enables architects, engineers, owners and builders across the globe to collaborate in real time in over 40 different 3d formats, while providing a solution to distribute bim data into external business systems. “autodesk has long been a valued business partner, sharing our dedication to advancing bim across multi-discipline teams, workflows, and projects,” said jordan brandt, ceo and cofounder at horizontal systems. “our customers will experience the benefit of ‘gluing’ together horizontal systems’ cloud technology with the comprehensive portfolio of autodesk bim software. the autodesk 360 for bim vision is a perfect fit for our customers, as this integrated and flexible strategy makes it easier than ever for everyone to collaborate.” autodesk intends to integrate horizontal systems solutions into its autodesk 360 for bim solution. during the transition, autodesk will continue to fully support existing horizontal systems customers. business outlook 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 and services offerings; autodesk's commitments to horizontal systems’s customers; and the impact of the combined product capabilities, how autodesk’s products and services will evolve and change, and of the integration of horizontal systems’s products into autodesk products. factors that could cause actual results to differ materially include the following: difficulties encountered in closing the acquisition of horizontal systems and integrating horizontal systems’s business, including its customers, vendors and employees; costs related to the proposed 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 modify 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; failure to achieve; 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 january 31, 2011, and form 10-q for the quarter ended july 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. about autodesk 360 for bim autodesk 360 for bim provides solutions for collaboration, data and lifecycle management for the architecture, engineering, and construction (aec) industry. by providing diverse, distributed teams with 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. enabled by autodesk cloud and integrated with design and business applications, autodesk 360 for bim streamlines business processes and workflows for increased efficiency, improved profitability, and higher quality outcomes. about horizontal systems horizontal systems is a global cloud technology company focused on the needs of design firms, construction companies and building owners. through unique web streaming building information modeling (bim) technology, horizontal unites all project stakeholders in a live collaborative 3d environment for more effective and efficient coordination. with accessible, intelligent bim data hosted on an open platform, horizontal systems’ clients leverage seamless workflows across project and facilities management systems for a truly integrated building enterprise. horizontal systems was incorporated in 2009 and is based in new york, new york. about autodesk university now in its 19th year, autodesk university is the annual series of autodesk in-person and virtual user conferences, which include the flagship autodesk university event in las vegas, autodesk university china, autodesk university japan and autodesk university brazil, as well as associated online content available through autodesk university virtual. the 2011 events will bring together 200,000 designers, engineers, architects and digital artists together to explore the “power of the possible”. more information is available at the autodesk university web site. about autodesk 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. autodesk and autocad are registered trademarks or trademarks of autodesk, inc., in the usa and/or other countries. academy award is a registered trademark of the academy of motion picture arts and sciences. all other brand names, product names or trademarks belong to their respective holders. autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2011 autodesk, inc. all rights reserved.
