Business News
Autodesk to Acquire ALGOR, Inc.
Wednesday 17. December 2008 - Autodesk, Inc. (Nasdaq: ADSK), a world leader in design innovation technologies, announced today that it has signed a definitive agreement to acquire ALGOR, Inc., a leading provider of analysis and simulation software, for approximately $34 million.
Headquartered in Pittsburgh, Pennsylvania, ALGOR’s computer aided engineering software is used for product design and development in the automotive, aerospace, medical, consumer products, defense, energy and utilities industries. The acquisition will strengthen the Autodesk solution for Digital Prototyping with new advanced simulation functionality, including multiphysics, mechanical event simulation and fluid flow.
“Autodesk strives to offer manufacturers the most comprehensive and easy-to-use Digital Prototyping solution on the market,” said Robert “Buzz” Kross, senior vice president of Autodesk Manufacturing Solutions. “The acquisition of ALGOR will add significant new capabilities to virtually test and predict the impact of simultaneous real world conditions like heat and pressure on product designs.”
“Since 1976, ALGOR’s accurate, easy-to-use analysis and simulation tools have helped mechanical engineers make better, safer products at a lower cost,” said Michael Bussler, president and founder of ALGOR. “We have enjoyed a long-standing partnership with Autodesk, and the combination of our proven technologies will be an exciting new chapter for our customers worldwide.”
Product Integration
ALGOR’s software and services enable complex simulations on products ranging from mobile phones and printer cartridges to oil pipelines. Following the acquisition, Autodesk customers will have the opportunity to perform even more sophisticated analysis based on real-world structural and thermal conditions, allowing mechanical engineers to make informed product development decisions.
Upon completion of the acquisition, Autodesk’s current intent is to integrate ALGOR into its Manufacturing Solutions business unit and to continue developing and selling ALGOR’s core product line. Autodesk plans to continue developing the ALGOR products with an open approach, allowing direct data exchange between ALGOR products and multiple computer aided design software offerings.
The transaction is subject to customary closing conditions, and is expected to close in the fourth quarter of fiscal 2009.