Autodesk Acquires CAiCE Software Corporation 08.06.2002
Autodesk, Inc. announced it has entered into a definitive agreement to acquire the software and related assets of CAiCE Software Corporation, a profitable, Florida-based developer of surveying and engineering applications for transportation agencies and consultants, for approximately $10 million cash. Autodesk anticipates that the transaction will close in early September and expects that the acquisition will be neutral with respect to earnings for the current fiscal year. With this acquisition, Autodesk will add complementary functionality to its existing civil engineering solutions for highways, airports, railroads and other transportation-related segments positioning Autodesk to expand into new markets.
“Large transportation agencies, such as state and federal Departments of Transportation, are increasingly looking for a single vendor to bridge the gap between the planners using GIS software and the engineers using design software,” said Larry Diamond, Vice President of the GIS Solutions Division at Autodesk. “By acquiring CAiCE, we will be able to provide agencies with a solution throughout the workflow that integrates GIS with civil engineering and transportation-specific functionality. CAiCE’s expertise and its software solutions for large-scale transportation projects complement Autodesk’s GIS and civil engineering products.”
“This is an exciting development for the transportation industry,” said Alan Akman, CEO of CAiCE Software Corporation. “The combined technology of CAiCE and Autodesk will offer transportation organizations an outstanding solution for integrating the planning, design, construction, and maintenance of transportation infrastructure projects worldwide.”