Autodesk is Acquiring Smart Water Infrastructure Modeling and Simulation Company Innovyze
3D design software provider, Autodesk, recently announced the acquisition of water infrastructure software provider Innovyze.
The transaction was finalized by signing the definitive agreement between the companies. The deal is worth $1 billion net of cash subject to working capital and tax closing adjustments. Through the acquisition of Innovyze, Autodesk will now consolidate its position in the water infrastructure solutions space.
Innovyze: A Company Overview
Innovyze specializes in the development of wet infrastructure business analytics software solutions. Headquartered in Monrovia, California, the company provides customers with AI and machine learning (ML) solutions designed to predict and optimize water operations and processes for utilities, food and beverage plants, and industrial facilities.
Innovyze reportedly counts 6500 clients across 60 countries at the time of writing, most of which utilizing its flagship software-as-a-service (SaaS) platform Info360.
Info360 offers customers a series of lifecycle management features, including asset management, and drainage design and analysis.
Innovyze and Autodesk logos. Image used courtesy of Innovyze/Autodesk
The software is capable of measuring AI and operational analytics, performing stormwater, sewer, and flood modeling, as well as water distribution modeling and management.
Advancing Automation in the Water Infrastructure Industry
According to Autodesk, a little over two billion people today lack access to safe drinking water at home. The same data also estimates that, by 2025, more than two-thirds of the world’s population will reside in water-stressed areas.
Given this data, Andrew Anagnost, Autodesk president, and CEO believes that the goal of achieving a more sustainable planet is within reach, but it can only be attained by responsibly managing the use of water.
The Info360 dashboard. Image used courtesy of Innovyze/Autodesk
“An estimated $1.9 trillion is required to address global water infrastructure needs by 2030,” he explained, “and by fundamentally changing the way systems are designed, constructed, and operated, we are best positioned to overcome this challenge and realize the better world we’ve imagined.”
The thought was also echoed by Amy Bunszel, Executive Vice President, AEC Design Solutions at Autodesk.
Commenting on the issue, Bunszel said that almost nine trillion gallons of water are lost annually due to leaks and pipe breaks, but these accidents cannot be fixed if operators are not aware of them.
“Innovyze’s portfolio of operational analytics, distribution modeling, and asset management solutions provides the insight needed to identify this and other potential problems before they become a crisis,” Bunszel concluded.
A Strategic Acquisition
Given its three decades of experience in the water infrastructure business, the acquisition of Innovyze represents a major milestone for Autodesk.
“For thirty-five years Innovyze has been a hidden part of the daily lives of millions of people around the world,” said Innovyze CEO Colby Manwaring, “helping to deliver fresh, clean water, managing sewage and flooding in our communities, and turning wastewater into safe water.”
On the other hand, Manwaring explains, Autodesk’s design DNA is virtually ubiquitous in today’s structures, both above ground and below.
By bringing together Innovyze’s portfolio and Autodesk’s design and analysis solutions, civil engineers, water utility companies and water experts will now be able to better respond to issues and to plan better responses to accidents.
“[...] It makes strategic sense to bring together our complementary organizations critical to much of the world’s population,” Manwaring added. “We look forward to completing the acquisition and getting to work together.”
The transaction is currently subject to customary closing conditions and is expected to close before the end of Autodesk’s first quarter of the fiscal year in April 2022.