Autodesk, Inc. (NASDAQ: ADSK), completed the acquisition of Innovyze, Inc., a Portland, Oregon-based provider of a software platform for the water industry, for $1 billion.
The acquisition positions Autodesk as a global provider of end-to-end digital solutions from design to operations of water infrastructure and accelerates its digital twin strategy, which includes the recent launch of Autodesk Tandem.
Additionally, the deal will enhance Autodesk’s growth potential by expanding Innovyze’s global presence and presence across the water infrastructure value chain from design through construction to operations and maintenance.
Led by Colby Manwaring, CEO, Innovyze provides a software platform for the water industry to approximately 3,000 customers worldwide. Its modeling, simulation, asset performance management and operational analytics solutions enable water distribution and collection infrastructure, more sustainably designed drainage systems, and centralizes infrastructure asset visibility to optimize capital and operational expenses. It is also a global leader in digital twin technology for water infrastructure. Customers include public and private utility companies in many of the most populous cities across five continents.