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Autodesk Acquires MaintainX for $3.6B
4 Jun
Summary
- Autodesk is buying MaintainX for $3.6 billion in an all-cash deal.
- The acquisition is expected to close by January 2027.
- MaintainX manages asset inspections, work orders, and condition across industries.
Autodesk Inc. has announced its agreement to acquire MaintainX, a company specializing in maintenance tools, for $3.6 billion. This all-cash deal is slated to close within the fiscal year ending in January 2027. The acquisition marks a significant strategic move for Autodesk, expanding its reach into the operations sector.
CEO Andrew Anagnost stated that Autodesk aims to ensure data and insights flow seamlessly through a continuous life cycle. MaintainX's platform is utilized across diverse industries such as farming, manufacturing, and food services for managing asset inspections, work orders, and condition tracking.
Autodesk plans to fund the acquisition using approximately $1.6 billion of its cash reserves and borrowing the remainder. This merger is intended to bridge the gap between teams involved in designing and building assets and those responsible for their daily operation and upkeep.
In separate financial news, Autodesk projected sales of about $2.01 billion for the current period, with earnings expected between $3.10 and $3.14 per share, excluding certain items. This follows a first fiscal quarter that ended April 30, where revenue grew 18% to $1.93 billion.
