Autodesk Signs Agreement to Acquire SeeControl
August 27 2015 - 4:00PM
Business Wire
Acquisition Adds Enterprise Internet of Things Cloud Service to
Autodesk Portfolio
Autodesk, Inc. (Nasdaq: ADSK) has signed an agreement to acquire
SeeControl, a San Francisco-based developer of an enterprise
Internet of Things (IoT) cloud service platform. The SeeControl
service helps manufacturers and systems integrators connect,
analyze, control, and manage remote products, things, and assets
and create new service revenue opportunities.
“A new future of making things is emerging, where any built
object, product or environment can be embedded with sensors that
can feed information back into the design process. The acquisition
of SeeControl is the first step on Autodesk’s ongoing efforts to
develop new technologies and solutions that will help our customers
leverage the Internet of Things, starting by enabling them to
capture, analyze, and utilize data from their products. We welcome
the SeeControl team and ecosystem to Autodesk,” said Amar Hanspal,
Autodesk Senior Vice President for Information Modeling and
Platform Products.
Autodesk intends to continue to sell and support the SeeControl
platform and to incorporate the technology into design solutions
for the manufacturing and building industries. Autodesk also plans
to develop a new IoT solution based on the SeeControl technology
that will allow companies to gain real world insights of how their
products perform, enabling customers to explore innovative new
service models. This transaction is subject to customary closing
conditions and is expected to close during Autodesk’s fiscal
quarter ending October 31, 2015. Terms were not disclosed.
"SolarCity has able to conceive and prototype new product ideas
faster with SeeControl's point-and-click toolset, and we’re excited
to see how Autodesk will further develop the platform and integrate
the technology,” said Ryan Hanley, Senior Director of Grid
Engineering Solutions, SolarCity.
Business Outlook
This transaction is expected to have no impact on Autodesk’s
guidance issued today, August 27, 2015.
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 guidance issued on
August 27, 2015, our business performance, and product and services
offerings; the impact of the transaction on Autodesk's and
SeeControl’s products and services capabilities, customers, and
partners; and Autodesk’s plans to develop new IoT solutions.
Factors that could cause actual results to differ materially
include the following: Autodesk’s ability to timely close the
acquisition of SeeControl and successfully integrate the business;
costs related to the acquisition; whether demand for the IoT grows
as anticipated; the competitive environment in the manufacturing
and building industries and competitive responses to the
acquisition; Autodesk and SeeControl success developing new
products or modifying existing products and the degree to which
these gain market acceptance; general market and business
conditions; and unanticipated impact of accounting for
acquisitions. Further information on potential factors that could
affect the financial results of Autodesk are included in the
company's annual report on Form 10-K for the year ended January 31,
2015, and Form 10-Q for the quarter ended April 30, 2015, which are
on file with the Securities and Exchange Commission. Autodesk does
not assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made.
About Autodesk
Autodesk helps people imagine, design and create a better world.
Everyone—from design professionals, engineers and architects to
digital artists, students and hobbyists—uses Autodesk software
to unlock their creativity and solve important challenges. For more
information visit autodesk.com or follow @autodesk.
Autodesk and the Autodesk logo are registered trademarks or
trademarks of Autodesk, Inc., and/or its subsidiaries and/or
affiliates in the USA and/or other countries. All other brand
names, product names or trademarks belong to their respective
holders. Autodesk reserves the right to alter product and services
offerings, and specifications and pricing at any time without
notice, and is not responsible for typographical or graphical
errors that may appear in this document.© 2015 Autodesk, Inc. All
rights reserved.
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AutodeskNoah Cole, +1-415-580-3535noah.cole@autodesk.com
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