Autodesk, Inc. completed the acquisition of BuildingConnected Inc. from CrossLink Capital, Inc. and others.
January 23, 2019 at 09:30 am IST
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Autodesk, Inc. (NasdaqGS:ADSK) signed a definitive agreement to acquire BuildingConnected Inc. from CrossLink Capital, Inc. and others for approximately $280 million on December 19, 2018. Under the terms, Autodesk Inc. will acquire BuildingConnected Inc. for $275 million net of cash subject to customary adjustments. The transaction will be financed from cash on hand. BuildingConnected will join Autodesk Construction Solution team, led by Jim Lynch, Vice President and General Manager Construction. The transaction is subject to customary closing conditions and regulatory approvals. The transaction is expected to close in the fourth quarter of fiscal 2019, ending January 31, 2019. As of December 27, 2018, transaction is expected to close in January 2019. The acquisition will have no material impact on Autodesk’s fourth quarter and fiscal year 2019. For fiscal year 2020, Autodesk expects an immaterial revenue and Annualized Recurring Revenue (ARR) benefit from BuildingConnected and a slightly dilutive impact to profitability and cash flow. Eric McCrath of Morrison & Foerster LLP acted as legal advisor to Autodesk Inc. Michael Gleason and Craig Waldman of Jones Day acted as legal advisor to Autodesk Inc. David A. Richardson, Rajiv Dharnidharka, Cisco Palao-Ricketts, David Plewa, Michael Greenberg, Jennifer M. Kashatus, Margaret A. Keane, Paolo Morante, Matthew Van Leeuwen, Tulin Gurer, Patrick Chao, Tzung-bor (Chung) Wei, Eric Ortiz and Adam I. Steene of DLA Piper LLP (US) acted as legal advisors to BuildingConnected, Inc. Raymond James & Associates acted as financial advisor to BuildingConnected Inc.
Autodesk, Inc. (NasdaqGS:ADSK) completed the acquisition of BuildingConnected Inc. from CrossLink Capital, Inc. and others on January 23, 2019.
Autodesk, Inc. is one of the world's leading producers of digital design and layout software for PC and the Internet. Net sales break down by family of products and services primarily as follows:
- design software programmes (92.8%): construction and civil engineering software (49% of net sales; software for modeling architectural plans, optimizing cartographic data, compiling digital drawings, topographic reliefs, etc.), platform technologies (29.9%; for automating design, management and sharing of documents, etc.), 2D and 3D mechanical design software (21.1%). Moreover, the group offers consulting, assistance, and training services;
- visualization and animation software programmes (5.8%): primarily intended for the media sector;
- other (1.4%).
Net sales break down by activity into subscription sales (92.9%), maintenance services (1.3%) and other (5.8%).
Net sales are distributed geographically as follows: the United States (34.4%), Americas (7.4%), Europe/Middle East/Africa (38.1%) and Asia/Pacific (20.1%).
AUTODESK, INC. 
