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Autodesk Completes Acquisition Of Delcam

Autodesk, Inc. (NASDAQ:ADSK) has completed the acquisition of Delcam, one of the world’s leading suppliers of advanced computer-aided manufacturing (CAM) software. Autodesk announced its intent to acquire Delcam on November 7, 2013 for £20.75 per share or approximately £172.5 million (~USD $286 Million), using non-U.S.-based cash. Delcam will operate as a wholly owned, independently operated subsidiary of Autodesk, with no significant changes planned for Delcam’s business.

“Autodesk brings to Delcam increased financial strength, unparalleled expertise in design, and a long history of making technology accessible to broad audiences. Through sharing our technology and expertise, this transaction will transform industries and improve how the world is designed and made,” said Clive Martell, Delcam chief executive officer. “By maintaining the basic structure of Delcam’s business, Autodesk is reflecting its trust in and respect for Delcam’s solutions, leadership and organization, and we are excited to come together and further the vision, development and implementation of technology for digital manufacturing.”

Headquartered in Birmingham, UK, Delcam’s range of design, manufacturing and inspection software provides automated CADCAM solutions for a variety of industries, ranging from aerospace and automotive to toys and sports equipment. The company has more than 30 offices worldwide and approximately 700 employees.

“The acquisition of Delcam is an important step in Autodesk’s continued expansion into manufacturing and fabrication and beyond our roots in design. Together with Delcam we look forward to accelerating the development of a more comprehensive Digital Prototyping solution and delivering a better manufacturing experience,” said Buzz Kross, senior vice president for Design, Lifecycle and Simulation products. “We welcome the Delcam employees, customers, partners and community to Autodesk.”

Business Outlook

This transaction is expected to have no impact on Autodesk’s guidance issued on November 26, 2013. Autodesk expects this transaction to be dilutive to its non-GAAP earnings in fiscal 2015 and accretive to its non-GAAP earnings in fiscal 2016*. The company will provide more details about the impact of the transaction on its fourth quarter conference call, currently scheduled for February 26, 2014.

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