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Autodesk to Acquire Upchain to Accelerate Product Development Data and Processes in the Cloud
SAN FRANCISCO, April 15, 2021 — Autodesk, Inc. (NASDAQ: ADSK), a global leader in design and engineering software, has officially announced its acquisition of Upchain, a pioneer in cloud-based product lifecycle management (PLM) and product data management (PDM) solutions. This acquisition marks a significant milestone for Autodesk as it seeks to enhance collaboration across the increasingly fragmented product value chain, irrespective of the CAD system being used.
In a recent statement, Andrew Anagnost, President and CEO of Autodesk, expressed his excitement about the acquisition: "Resilience and collaboration are crucial for manufacturers navigating the complexities of modern product development. By integrating Upchain into our ecosystem, we aim to empower engineers, manufacturers, and suppliers with seamless data flow and actionable insights."
Upchain has long been known for its innovative cloud platform that breaks down traditional barriers in PLM and PDM, enabling manufacturers to manage complexity effectively by keeping data central to the product development process. John Laslavic, CEO and Founder of Upchain, echoed this sentiment: "Our mission has always been to revolutionize collaboration across the entire product lifecycle. Joining forces with Autodesk aligns perfectly with our vision and opens up exciting opportunities for growth."
The acquisition is expected to strengthen Autodesk's commitment to providing an open and flexible solution that integrates seamlessly with popular CAD tools such as Inventor, AutoCAD, and Fusion 360, as well as other widely used CAD systems in the manufacturing sector. Scott Reese, Executive Vice President of Product Development and Manufacturing Solutions at Autodesk, emphasized the strategic importance of this move: "In today’s fast-paced manufacturing landscape, having instant access to comprehensive data is key to staying competitive. With Upchain, we're equipping businesses with the agility needed to innovate and succeed."
Upchain boasts a diverse client base spanning multiple industries, including automotive, aerospace, industrial machinery, entertainment, and fashion. The company’s expertise in streamlining workflows and fostering collaboration has earned it a strong reputation among its clients.
While the deal is still subject to standard closing conditions, Autodesk anticipates finalizing the acquisition during its second quarter of fiscal year 2022, concluding on July 31, 2021. For more details, interested parties can refer to the accompanying PDF document.
About Autodesk:
Autodesk empowers creators to bring their visions to life. Whether it’s designing cutting-edge vehicles, constructing iconic buildings, or crafting engaging films, Autodesk’s tools play a vital role in countless projects worldwide. To learn more about Autodesk’s offerings, visit www.autodesk.com or follow them on Twitter @autodesk.
Safe Harbor Statement:
This press release includes forward-looking statements involving risks and uncertainties. These statements relate to future events or the company’s future financial performance, including expectations regarding the acquisition timeline, potential impacts on business operations, and strategic goals. Actual outcomes may vary due to various factors such as integration challenges, market shifts, competitive dynamics, and unforeseen regulatory changes. For further information on these risks, readers should consult Autodesk’s filings with the U.S. Securities and Exchange Commission. Autodesk undertakes no obligation to update these forward-looking statements beyond the date they were made.
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