Blue Ridge Numerics

Feb 18, 2011

Autodesk Pays $39M for Blue Ridge Numerics February 18, 2011 Design and engineering software company Autodesk Inc. will pay $39 million in cash for Blue Ridge Numerics Inc. Virginia-based Blue Ridge Numerics, which develops design software, is backed by Maryland-based investment firm Global Environment Fund. The deal is expected to close during the first quarter of fiscal 2012. PRESS RELEASE: Autodesk, Inc. (Nasdaq: ADSK), a 3D design, engineering and entertainment software provider, has signed a definitive agreement to buy Blue Ridge Numerics, Inc., a Global Environment Fund portfolio company for $39 million in an all cash deal. The transaction is expected to close in the first quarter of fiscal 2012. After the completion of the deal, Blue Ridge Numerics will be integrated in to the manufacturing industry group and will continue the production of CFdesign products. The deal will help in simulation of Autodesk software manufacturing, and will broaden the Digital prototyping to provide customers with a spectrum of computational fluid dynamics (CFD) capabilities. Also it will add Autodesk’s capabilities for virtual testing, predicting new and existing product designs allowing customers to compete more effectively. With Blue Ridge acquisition, Autodesk also expects to design and manufacture safer, quality products or construct more energy efficient buildings, while reducing the cost. “Simulation represents a significant growth area for Autodesk, and we are focused on strengthening our portfolio in this area both organically and through acquisitions,” said Robert “Buzz” Kross, senior vice president of the Manufacturing Industry Group at Autodesk. Ed Williams, president and co-founder of Blue Ridge Numerics said: “Autodesk is a valued business partner, and the combination of both companies’ proven Digital Prototyping technologies will help customers worldwide tackle complex engineering challenges and ultimately be more successful with their designs.” Autodesk’s GAAP diluted earnings per share and non-GAAP diluted earnings per share are expected to decrease in its first quarter of 2012 by $0.01 per share. However, the full year 2012 earnings are expected to fall in the range of $0.01 per share and $0.03 per share. Autodesk shares are trading at $43.11 down 1.67 percent on Thursday. © 2015 Buyouts Insider / Argosy Group LLC