Autodesk Terminates Acquisition Discussions with Altium

Rhea-AI Summary

On July 20, 2021, Autodesk (NASDAQ: ADSK) announced the termination of its acquisition discussions with Altium Limited (ASX: ALU). Despite verbally improving their initial proposal, Autodesk could not reach an agreement to move forward. CEO Andrew Anagnost expressed respect for Altium's leadership team and wished them well. Autodesk is known for its software that supports various industries including automotive and entertainment, empowering creativity in product development.

Positive

• None.

Negative

• Failed to acquire Altium may hinder potential market expansion and synergy opportunities.
• The termination could signal challenges in Autodesk's acquisition strategy or valuation disagreements.

SAN FRANCISCO, July 20, 2021 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today announced that it has terminated discussions to acquire Altium Limited (ASX: ALU).

"Autodesk has a long track record of disciplined strategic acquisitions," said Andrew Anagnost, CEO of Autodesk. "While we did verbally improve our initial proposal, we were unable to agree on the basis to advance discussions. We respect the leadership team at Altium and wish them the best with their business."

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.

 

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SOURCE Autodesk, Inc.

FAQ

Why did Autodesk terminate discussions with Altium?

Autodesk was unable to agree on the terms to advance discussions despite improving their initial proposal.

What impact will the acquisition termination have on Autodesk's stock?

The termination might raise concerns among investors about Autodesk's acquisition strategy and potential for growth.

What does Autodesk do?

Autodesk creates software for various industries, enabling users to design and create products, buildings, and media.

What is the significance of the proposed acquisition of Altium?

The acquisition was intended to enhance Autodesk's capabilities in product development, but discussions were halted.