Autodesk Expands Analysis Software Portfolio Through Acquisition Of Firehole Composites
Inc., (NASDAQ: ADSK) has completed the acquisition of Firehole
Technologies (DBA Firehole Composites), a privately held software
company that specializes in design and analysis software for composite
Autodesk Inc., (NASDAQ: ADSK) has completed the acquisition of Firehole Technologies (DBA Firehole Composites), a privately held software company that specializes in design and analysis software for composite materials. Through the acquisition, Autodesk will expand its expertise and technology to help its customers work with the next generation of lighter, stronger, safer and more energy efficient materials. Firehole Composites is based in Laramie, Wyoming. “As manufacturers move to more complex material such as light weight composites, new simulation technology is required to predict and optimize the performance of these materials. This acquisition will enable Autodesk to deliver this technology to a broad spectrum of design and engineering industries,” said Buzz Kross, senior vice president for Design, Lifecycle and Simulation products. “The Firehole team will add significant expertise in next generation materials and non-linear analysis, as well as industry-leading technologies that strongly complement our solutions for structural, thermal and plastics analysis. We welcome the Firehole employees and customers to the Autodesk community.” Autodesk intends to sell and support the existing Firehole Composites product line, which includes Helius:MCT and Helius:CompositePro, while enhancing the technology for closer integration with Autodesk solutions. Terms of the transaction were not disclosed. Business Outlook This transaction is expected to have no impact on guidance issued on February 25, 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 product and services offerings, the impact of the acquired technology on Autodesk's products and services capabilities, the impact of the acquisition on end-user functionality and workflow integration, and the acceleration of Autodesk’s move to the cloud. Factors that could cause actual results to differ materially include the following: difficulties encountered in integrating the Firehole Composites 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.