Autodesk strikes $1 billion deal with Innovyze
Autodesk is to buy water infrastructure provider Innovyze for $1 billion, as it accelerates its digital twin strategy and strives for a more sustainable and digitized water industry.
The deal is net of cash, subject to working capital and tax closing adjustments.
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.
Furthermore, its solutions centralize infrastructure asset visibility to optimize capital and operational expenses.
Combining Innovyze's portfolio with Autodesk's design and analysis solutions, including Autodesk Civil 3D, Autodesk InfraWorks, and the Autodesk Construction Cloud, enables civil engineers, water utility companies and water experts to respond to issues faster and improves 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.
"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."
In December, Innovyze announced a new Software-as-a-Service (SaaS) platform, Info360.com, which enables water and wastewater utilities to monitor, analyze, and optimize their operations using the cloud.
Amy Bunszel, Executive Vice President, AEC Design Solutions at Autodesk, said nearly nine trillion gallons of water are lost each year worldwide due to prolonged leaks and pipe breaks.
"But we cannot manage or fix what we cannot see," she said. "Innovyze's portfolio of operational analytics, distribution modeling, and asset management solutions provides the insight needed to identify this and other potential problems before they become a crisis."
Colby Manwaring, CEO of Innovyze, said 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 its complementary organizations. "We look forward to completing the acquisition and getting to work, together."