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Autodesk Expands Expertise In Automotive Surfacing With Acquisition Of VSR Technology

Stocks in this article: ADSK

Autodesk, Inc. (NASDAQ: ADSK) has completed the acquisition of certain technology assets from Virtual Shape Research GmbH (VSR), a developer of class-A surface modeling and conceptual design software for the automotive industry. As part of the deal, 10 VSR employees will join Autodesk. The acquisition of the VSR team and technology will help Autodesk expand its offerings for the automotive industry, including enhancement of the Alias product line, and drive further leadership in technical surfacing technology. Terms of the transaction were not disclosed.

“Autodesk continues to invest in developing and acquiring technology to support our customers in the automotive industry,” said Buzz Kross, senior vice president of Design, Lifecycle and Simulation products at Autodesk. “The addition of the VSR technology to Autodesk will help our customers achieve a more efficient development process with production-ready, high-quality technical surfaces. We are excited to welcome VSR employees, customers and partners to the Autodesk community.”

Autodesk plans to incorporate the VSR technology into its existing product lines, including Alias products, and to apply the team and technology toward the development of next-generation design/styling and technical surfacing solutions. Autodesk intends to continue offering for the existing VSR plugin for Rhino, and to make this product available for purchase exclusively via the Autodesk e-store. VSR has long collaborated with Autodesk on the research and development of technology for the automotive industry, and is based in Hannover, Germany.

Business Outlook

This transaction is expected to have no impact on guidance issued on October 2, 2013.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding: the impact of the acquisition on Autodesk's automobile industry product and services offerings, the impact of the acquired technology on Autodesk's products and services capabilities, end-user development processes and Autodesk’s next-generation solutions. Factors that could cause actual results to differ materially include the following: difficulties encountered in integrating the VSR technology; costs related to the acquisition; whether certain market segments grow as anticipated; the competitive environment in the software industry and competitive responses to the acquisition; our success developing new products or modifying existing products and the degree to which these gain market acceptance; general market and business conditions; the timing and degree of expected investments in growth opportunities; pricing pressure; failure to achieve continued cost reductions and productivity increases; changes in the timing of product releases and retirements; failure of key new applications to achieve anticipated levels of customer acceptance; failure to achieve continued success in technology advancements; interruptions or terminations in the business of our consultants or third party developers; the expense and impact of legal or regulatory proceedings; and unanticipated impact of accounting for acquisitions.

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