SAN RAFAEL, Calif., Jan. 20 /PRNewswire-FirstCall/ -- Autodesk, Inc. (NASDAQ: ADSK) today announced that it has completed the acquisition of ALGOR, Inc. (ALGOR), a leading provider of analysis and simulation software. Autodesk announced its intent to purchase ALGOR for $34 million on December 17, 2008.
The addition of ALGOR simulation technologies will enhance the Autodesk solution for Digital Prototyping with sophisticated new simulation capabilities such as thermal and fluid flow analysis, enabling customers to better optimize and improve product designs before manufacturing.
"The addition of ALGOR product lines to Autodesk's existing portfolio will complement our simulation capabilities and provide customers with a more comprehensive solution for Digital Prototyping," said Robert "Buzz" Kross, senior vice president of Autodesk Manufacturing Solutions. "We look forward to an exciting new chapter in helping our customers make informed product development decisions."
This transaction is expected to have no impact on previously issued guidance.
Autodesk, Inc., is a world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art Digital Prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit www.autodesk.com.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding impact of the acquisition on Autodesk's earnings per share, product offerings and the performance of its business. Factors that could cause actual results to differ materially include the following: difficulties encountered integrating the ALGOR business; whether certain market segments grow as anticipated; the competitive environment in the software industry and competitive responses to the acquisition; and whether Autodesk can successfully develop new products or modify existing products and the degree to which these gain market acceptance.
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, 2008, and Form 10-Q for the quarter ended October 31, 2008, which are on file with the Securities and Exchange Commission.
Autodesk and AutoCAD are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
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