SAN RAFAEL, CA -- Autodesk, Inc. (NASDAQ: ADSK) today announced it has signed a definitive agreement to acquire Portland, Oregon-based Innovyze, Inc., a global leader in water infrastructure software, for $1 billion net of cash subject to working capital and tax closing adjustments. The acquisition positions Autodesk as a technology leader in end-to-end water infrastructure solutions from design to operations, accelerates Autodesk’s digital twin strategy, and creates a clearer path to a more sustainable and digitized water industry.
Innovyze’s modeling, simulation, and predictive analyses solutions enable more cost-effective and sustainably designed water distribution networks, water collection systems, water and wastewater treatment plants, and flood protection systems. Further, Innovyze's solutions centralize infrastructure asset visibility to optimize capital and operational expenses. Combining Innovyze’s portfolio with the power of Autodesk’s design and analysis solutions, including Autodesk Civil 3D, Autodesk InfraWorks, and the Autodesk Construction Cloud, offers civil engineers, water utility companies and water experts the ability to better respond to issues and to improve planning.
For 35-years, Innovyze has been building innovative software for the water industry and is trusted by approximately 3,000 customers worldwide, including utility companies in many of the most populous cities across five continents, a majority of ENR’s top design firms, and leading environmental and engineering consultancies.
“We can achieve a more sustainable planet, but we can’t do it without responsibly managing our use of water and securing its future,” said Andrew Anagnost, Autodesk president and CEO. “An estimated $1.9 trillion is required to address global water infrastructure needs by 2030, and by fundamentally changing the way systems are designed, constructed, and operated, we are best positioned to overcome this challenge and realize the better world we’ve imagined.”
Global law firm Hogan Lovells advised Autodesk, Inc. in the deal. The core Hogan Lovells team advising Autodesk was led by M&A partner Keith Flaum (Silicon Valley), M&A associate Samantha Leigh Seiden (Los Angeles), M&A associate Jeremy Pushkin (Silicon Valley), corporate associate Jeff Nwagbo (Silicon Valley), IPMT partner John Brockland (San Francisco), IPMT senior associates Max Scott (San Francisco) and Conner Griffith (San Francisco), IPMT associate H. Whei Hsueh (San Francisco), employee benefits & executive compensation partner Michael Frank (Silicon Valley) and senior associate Malaz Moustafa (Washington D.C.), and tax partner Philip Altman (New York).
Other key support included privacy and cybersecurity partner Scott Loughlin (Washington D.C.), and senior associates Nathan Salminen (Washington D.C.)and Morgan NG Perna (Washington D.C.), M&A partner Richard Diffenthal (London), M&A associate Chloe Honeyborne (London), international trade and investment partners Aleksandar Dukic (London) and T. Weymouth (Washington D.C.), and senior associate Patrick de Lapérouse (Washington D.C.).
“For thirty-five years Innovyze has been a hidden part of the daily lives of millions of people around the world, helping to deliver fresh, clean water, managing sewage and flooding in our communities, and turning wastewater into safe water,” said Colby Manwaring, CEO of Innovyze. “Similarly, if you look at the built world around us, Autodesk’s design DNA is found in just about every structure you see above ground and below, so it makes strategic sense to bring together our complementary organizations critical to much of the world’s population. We look forward to completing the acquisition and getting to work, together.”
