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SAN RAFAEL, Calif., November 17, 2020 /PRNewswire/ — At Autodesk University, Autodesk, Inc. (NASDAQ: ADSK) announced today that it has entered into a definitive agreement to acquire Spacemaker for $240 million, net of cash.
The acquisition of Spacemaker marks a significant step forward for Autodesk as it seeks to enhance its capabilities in AI-driven design tools. Based in Oslo, Norway, Spacemaker specializes in leveraging cloud-based artificial intelligence and generative design to assist architects, urban planners, and real estate developers in making more informed early-stage design decisions swiftly. This approach not only accelerates the design process but also promotes sustainability from the very beginning of a project. By evaluating optimal solutions early on, Spacemaker empowers architects to maximize their clients' long-term property investments. The transaction remains subject to standard closing conditions and is anticipated to conclude during Autodesk's fourth quarter of fiscal 2021, which ends on January 31, 2021.
Through this acquisition, Autodesk gains a robust platform to push forward modern, user-centric automation powered by AI, significantly boosting outcome-based design abilities for architects. Using Spacemaker, design professionals can swiftly generate and assess options for buildings or urban developments. Acting as a partner to the architect, the Spacemaker platform enables users to quickly produce, refine, and iterate on various design alternatives while factoring in essential criteria such as terrain, maps, wind patterns, lighting, traffic flow, zoning regulations, and more. This results in optimized designs tailored to the full potential of the site, ensuring better outcomes right from the start and allowing designers to concentrate on the creative aspects of their work.
"Spacemaker represents a breakthrough in utilizing insights and automation, granting designers the power to create and test urban design concepts within minutes," remarked Andrew Anagnost, CEO and President of Autodesk. "Given the projected addition of two billion people to our planet by 2050, the urgency to expedite design processes and promote sustainability in urban planning cannot be overstated. Spacemaker’s technology introduces a fundamental shift in how we envision and construct cities, keeping both people and the planet healthy."
"Our decisions always align with our core values. The acquisition of Spacemaker underscores our dedication to advancing architects and enabling designers to contribute positively to the world," added Amy Bunszel, Senior Vice President for AEC Design Solutions at Autodesk. "When combined with our teams and complementary technologies, Spacemaker’s transformative solution will empower designers to make more informed decisions and address some of humanity’s most pressing challenges."
"Four years ago, we embarked on a mission to help design, engineering, and project teams reinvent the development of more sustainable cities and neighborhoods globally while maximizing investments," stated Havard Haukeland, CEO and co-founder of Spacemaker. "Autodesk shares our vision of creating a healthier planet for everyone and is uniquely positioned to rapidly distribute our product to planning teams worldwide. This milestone is a source of immense pride for our entire team and those who have supported us since the beginning."
"Real estate developers in Norway stand at the forefront of digital transformation in the construction sector, leading to enhanced project profitability and, crucially, improved efforts to combat climate change through more sustainable real estate developments," noted Daniel Kjørberg Siraj, CEO of OBOS. "Innovations like Spacemaker are part of the solution, and it is vital to provide them with the necessary scale to make a global impact. As an early investor and adopter, I am thrilled to see Spacemaker join Autodesk and eagerly anticipate witnessing Norwegian-born technology revolutionize the industry worldwide."
For further details regarding the acquisition, please refer to the accompanying PDF here.
About Autodesk
Autodesk creates software for individuals who bring ideas to life. Whether you've driven a high-performance vehicle, marveled at a towering skyscraper, used a smartphone, or enjoyed a great film, chances are you've encountered the work of millions of Autodesk customers using our software. Autodesk empowers creators to realize their visions. For additional information, visit autodesk.com or follow @autodesk.
Autodesk University Engages Global Audiences
Autodesk University (AU) is a collection of conferences and an online learning hub designed to inspire, challenge, and invigorate Autodesk software users, partners, and industry leaders about the future of design, engineering, and construction. Autodesk University 2020 marked the company's first global digital conference experience, virtually connecting over 90,000 innovators from more than 190 countries to explore innovative approaches to imagining, designing, and manufacturing. AU also provides free year-round access to learning resources, professional development opportunities, and inspiring industry talks from AU conference events. More information is available at the Autodesk University website or by following @AutodeskU #AU2020.
Safe Harbor Statement
This press release includes forward-looking statements that involve risks and uncertainties, including statements regarding: the planned acquisition of Spacemaker and the associated timing, the impact of the acquisition on Autodesk’s business performance, the effect of the transaction on Autodesk’s and Spacemaker’s product and service capabilities, customers, and partners, and Autodesk’s strategic priorities.
Factors that could cause actual results to differ materially include: Autodesk’s ability to successfully integrate Spacemaker’s business, costs related to the acquisition, whether the architecture and urban planning industries evolve as anticipated, the competitive landscape in the architecture and urban planning sectors and competitive reactions to the acquisition, Autodesk and Spacemaker’s success in developing new products or enhancing existing ones and the extent to which these achieve market acceptance, general market and business conditions, unforeseen impacts of accounting for acquisitions, and the ability to meet the conditions for completing the acquisition on the expected timeline, if at all.
Additional information on potential factors affecting Autodesk’s financial results is included in Autodesk’s Form 10-K and subsequent Forms 10-Q, which are filed with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events occurring or circumstances existing after the date on which they were made.
SOURCE: Autodesk, Inc.
