Autodesk Agrees to Acquire Horizontal Systems
Autodesk, Inc. (NASDAQ: ADSK) announced that it has signed a definitive agreement to acquire Horizontal Systems, a provider of innovative cloud-based Building Information Modeling collaboration solutions for the Architecture, Engineering, and Construction industry. The transaction is subject to customary closing conditions and is expected to close in Autodesk's fourth quarter of fiscal 2012 (which ends on Jan. 31, 2012). Terms of the transaction were not disclosed.
Horizontal Systems technology will be an important contributor to the Autodesk 360 for BIM vision for collaboration, data and lifecycle management, which was announced yesterday at Autodesk University (see related release). The acquisition of Horizontal Systems will help accelerate the movement of BIM to the cloud by providing users with the ability to more easily access and coordinate multi-discipline project data wherever and whenever it is needed throughout the entire project lifecycle.
