Autodesk Announces Intent to Acquire Moldflow Corporation
1 May, 2008Acquisition expected to expand Autodesk's digital prototyping solutions in the plastic parts markets.
Autodesk announced that it has signed a definitive agreement to acquire Moldflow Corporation, a provider of software solutions that allow designers to predict and optimize how plastic components will perform during each phase of the design and manufacture process.
The transaction reportedly will be structured as a cash tender offer for all the outstanding shares of Moldflow common stock and is expected to close in the second calendar quarter of 2008.
Autodesk reports that it will acquire Moldflow for $22 per share, or approximately $297 million, less the amount of Moldflow's cash balance at the time of closing and proceeds from options exercises. Headquartered in Framingham, Massachusetts, Moldflow has research and development offices in Melbourne, Australia, and Ithaca, New York, as well as sales offices in various geographies around the world. Moldflow has 285 employees and reported revenues for its fiscal 2007 of $55.9 million.
"Moldflow is a leader in computer integrated manufacturing and brings strong analysis and simulation capabilities to our Digital Prototyping solution," said Carl Bass, Autodesk president and CEO. "Their strong brand recognition will further enhance our leadership in digital prototyping by bringing best-of-class simulation and optimization into our portfolio. The products of Autodesk and Moldflow are very complementary, and combining our product lines will expand the product offerings available to Autodesk's customers."
