Autodesk Completes Acquisition of Spacemaker, Provider of AI and Generative Design-enabled Urban Design Platform

Rhea-AI Summary

Autodesk, Inc. (NASDAQ: ADSK) has finalized its acquisition of Spacemaker, based in Oslo, Norway, for a net cash of $240 million. This marks Autodesk's thirteenth acquisition in design and construction solutions over the past three years. Spacemaker's technology aids architects and urban designers in optimizing design options based on various criteria, supporting sustainability efforts. Notable outcomes for clients include significant reductions in project costs and increased value from their developments. The acquisition is expected to enhance Autodesk's automation and design capabilities for its customers.

Positive

• Acquisition of Spacemaker enhances Autodesk's design capabilities.
• Spacemaker's tools led to significant cost savings and efficiency for clients, such as a 50% productivity improvement for a large architecture firm.
• The acquisition supports Autodesk's focus on sustainability in design.

Negative

• Challenges may arise in integrating Spacemaker's technology into Autodesk's existing platform.
• The acquisition cost of $240 million could strain financial resources if not managed effectively.

SAN RAFAEL, Calif., Nov. 24, 2020 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today announced the completion of its acquisition of Oslo, Norway-based Spacemaker for $240 million net of cash, representing Autodesk's thirteenth investment in design and construction solutions providers in three years, including five acquisitions.

Spacemaker helps architects and urban designers maximize developers' long-term property investments and realize the full potential of the site by enabling them to quickly generate, optimize and iterate on design options taking into consideration design criteria and data like terrain, maps, wind, lighting, traffic, zoning, etc. Further, supporting the effort to combat climate change, Spacemaker offers designers and developers the ability to consider sustainability options from the start.

The acquisition of Spacemaker provides Autodesk with a powerful platform to drive modern, user-centric automation and accelerate outcome-based design capabilities for architects, and urban designers and planners.

Customers of Spacemaker have seen remarkable results decreasing project costs and increasing the value of their developments:

• A large European developer saved a year on the planning phase of a residential development project.
  
• A large Nordic developer was able to increase density by 16% while improving the number of apartments with a sea view by 33%, which could be worth more than €8 million.
  
• A large architecture firm improved productivity by 50% in early-phase development projects.
  
• A large construction firm increased density on a site by about 4%, which added an extra 900m² amounting to an extra €4.5 million.

"I am proud to officially welcome the Spacemaker team to the Autodesk family," said Andrew Anagnost, CEO of Autodesk. "Now we get to the important work of developing the integration roadmap between Spacemaker and our existing design portfolio and introducing the Spacemaker team to our architecture customers worldwide."

"From the outset, Autodesk demonstrated great appreciation for Spacemaker's team, technology and vision, which made the decision to become a part of Autodesk a straight-forward one," said Håvard Haukeland, CEO and co-founder of Spacemaker. "We appreciate those customers who embraced Spacemaker early on, and we look forward to not only deepening those relationships but to creating new partnerships with design teams around the world."

"Bouygues Immobilier is committed to being one of the most climate-conscious real estate development firms in the world requiring an ever-evolving exploration of digital tools to support the effort," said Pascal Minault, Chairman of Bouygues Immobilier. "Spacemaker is one such tool which allows us to design and build in a way which reflects our corporate values."

About Autodesk
Autodesk makes software for people who make things. If you've ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you've experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.

Autodesk and the Autodesk logo 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 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.

Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the integration of Spacemaker and the impact of the transaction on Autodesk's and Spacemaker's products and services capabilities, customers, and partners.

Factors that could cause actual results to differ materially include the following: Autodesk's ability to successfully integrate Spacemaker's business; costs related to the acquisition; whether the building infrastructure and design industry grows as anticipated; the competitive environment in the building infrastructure and design industry and competitive responses to the acquisition; Autodesk and Spacemaker's success developing new products or modifying existing products and the degree to which these gain market acceptance; general market and business conditions; and any unanticipated impact of accounting for acquisition.

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims 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.

We may make statements regarding planned or future development efforts for our existing or new products and services. These statements are not intended to be a promise or guarantee of future delivery of products, services or features but merely reflect our current plans, which may change. Purchasing decisions should not be made based upon reliance on these statements. The Company assumes no obligation to update these forward-looking statements to reflect events that occur or circumstances that exist or change after the date on which they were made.

 

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SOURCE Autodesk, Inc.

FAQ

What is the significance of Autodesk's acquisition of Spacemaker?

The acquisition enhances Autodesk's design automation capabilities and emphasizes sustainability in urban design.

How much did Autodesk pay for Spacemaker?

Autodesk acquired Spacemaker for $240 million net of cash.

What benefits have clients experienced from Spacemaker's technology?

Clients reported significant project cost reductions and efficiency improvements, including a 50% boost in productivity.

What potential challenges could arise from the acquisition of Spacemaker?

Integration of Spacemaker's technology into Autodesk's platform may pose challenges and financial strain.

When was the acquisition of Spacemaker completed?

The acquisition was completed on November 24, 2020.