Autodesk to Acquire Upchain to Accelerate Product Development Data and Processes in the Cloud
Lightning Partners Advises Provider of Instant-on, Cloud-based PLM and PDM Collaboration Solutions
SAN FRANCISCO, April 15, 2021 – Autodesk, Inc. (NASDAQ: ADSK) has announced it has signed a definitive agreement to acquire Upchain, a provider of instant-on, cloud-based product lifecycle management (PLM) and product data management (PDM) solutions. The acquisition positions Autodesk to deliver more value for engineers, manufacturers, suppliers and other product stakeholders by increasing collaboration across the decentralized product value chain, regardless of CAD system.
Upchain has created a unified cloud platform that eliminates the boundaries of traditional PLM and PDM technologies, helping manufacturers manage complexity across teams by putting data at the center of the product development process.
“Resilience and collaboration have never been more critical for manufacturers as they confront the increasing complexity of developing new products. We’re committed to addressing those needs by offering the most robust end-to-end design and manufacturing platform in the cloud,” said Andrew Anagnost, President and CEO of Autodesk. “The convergence of data and processes is transforming the industry. By integrating Upchain with our existing offerings, Autodesk customers will be able to easily move data without barriers and will be empowered to unlock and harness valuable insights that can translate to fresh ideas and business success.”
Autodesk will maintain Upchain’s open approach to data, supporting integration not only with solutions like Inventor, AutoCAD and Fusion 360, but also with other CAD systems commonly used in the manufacturing industry.
“The acquisition of Upchain is a big step toward meeting our customers where they are, removing the barriers to collaboration and bridging the gap between data management and process management technologies,” said Scott Reese, Executive Vice President of Product Development and Manufacturing Solutions at Autodesk. “Disruption has become a constant in the world of manufacturing. Being equipped with instant access to data across the product value chain gives companies the ability to remain agile and bring compelling products to market quickly and efficiently.”
Upchain serves a diversified customer base from across industries including automotive and aerospace, industrial machines, transportation, entertainment, and textiles and apparel.
“We’ve had a singular focus at Upchain to up-level cloud collaboration across the entire product lifecycle, changing the way that people work together so that everyone has access to the data they need, when they need it,” said John Laslavic, CEO and Founder of Upchain. “Autodesk shares our vision for radically simplifying how engineers and manufacturers across the entire value chain collaborate and bring a top-quality product to market faster. I look forward to seeing how Upchain and Autodesk, together, take that vision to the next level in the months and years to come.”
The transaction is subject to customary closing conditions and is expected to close during Autodesk’s second quarter of fiscal year 2022, ending July 31, 2021.
Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.
About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding: the planned acquisition of Upchain and the timing thereof, the impact of the acquisition on Autodesk’s business performance; the impact of the transaction on Autodesk’s and Upchain’s products and services capabilities, customers, and partners; and Autodesk’s strategic priorities.
Factors that could cause actual results to differ materially include the following: Autodesk’s ability to successfully integrate Upchain’s business; costs related to the acquisition; the evolution of cloud-based and traditional PLM and PDM technologies; changes in the manufacturing industry; the competitive environment in the PLM, PDM, and manufacturing industries and competitive responses to the acquisition; Autodesk and Upchain’s success developing new products or modifying existing products and the degree to which these gain market acceptance; general market and business conditions; unanticipated impact of accounting for acquisitions; and the ability to satisfy the conditions to the completion of the acquisition on the anticipated schedule, or at all.
Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk’s Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims 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.