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Autodesk Announces Intent To Acquire Delcam, Leading Provider Of CAM Software

Stocks in this article: ADSK

In the Additional Information paragraph, replacing all references of "Boris" with "Delcam."

The corrected release reads:

AUTODESK ANNOUNCES INTENT TO ACQUIRE DELCAM, LEADING PROVIDER OF CAM SOFTWARE

Autodesk, Inc. (NASDAQ:ADSK) today announced its intention to acquire Delcam (LON:DLC), one of the world’s leading suppliers of advanced software for the manufacturing industry. Autodesk plans to acquire Delcam for £20.75 per share or approximately £172.5 million. The transaction will be structured as a cash offer for all the outstanding shares of Delcam, is subject to customary closing conditions including regulatory approvals, and is expected to close in Autodesk’s first quarter of fiscal 2015. Autodesk expects to use its non-U.S.-based cash for the transaction.

“Today we are taking an important step on our path toward delivering a better manufacturing experience,” said Carl Bass, Autodesk president and CEO. “Together Autodesk and Delcam will help further the development and implementation of technology for digital manufacturing.”

Headquartered in Birmingham, UK, Delcam is one of the world’s leading suppliers of advanced CADCAM and industrial measurement solutions for the manufacturing industry. Delcam’s range of design, manufacturing and inspection software provides automated CADCAM solutions for a variety of industries, ranging from aerospace to toys and sports equipment. The company has more than 30 offices worldwide, approximately 600 employees, reported revenues for its fiscal 2012 of £47.1 million, and its shares trade on the London Stock Exchange under the ticker symbol “DLC.”

“I am very excited by the opportunities from combining Delcam with Autodesk to create a compelling platform from which to service both companies’ manufacturing clients,” said Clive Martell, Delcam CEO. “The offer is at a level which recognizes the potential of Delcam and provides an attractive opportunity for shareholders to realize value for their current holdings in cash, while at the same time opening up new opportunities for our staff and partners operating within the wider platform of the Autodesk group.”

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