Autodesk acquires Revit to complete building line
An
Autodesk product story
Edited by the Engineeringtalk editorial team
Feb 26, 2002
Autodesk is to acquire Revit Technology Corp, a Massachusetts-based developer of parametric building technology for building design, construction and management, for $133 million cash.
Autodesk is to acquire Revit Technology Corp, a Massachusetts-based developer of parametric building technology for building design, construction and management, for $133 million cash.
The addition of Revit software complements Autodesk's existing family of building industry applications with a parametric building modeller for customers to design, co-ordinate and integrate information about an entire building.
The closing of the acquisition is subject to governmental and shareholder approvals.
"The acquisition will extend our reach to new customers while expanding our existing building industry business", said Carol Bartz, Autodesk chairman and CEO.
"Our product line will offer the best drafting and model-based design capabilities on the market, ultimately helping designers, builders and owners better track and manage their building assets".
The model-based approach to building design and management will result in breakthrough efficiency across building lifecycles, from design through construction and management.
Autodesk Architectural Desktop (ADT) software supports the building model approach by incorporating design objects within a familiar AutoCAD environment.
The increased productivity realised by ADT customers using integrated design objects has driven Autodesk's Building Industry Division growth over the last year.
With Revit, Autodesk customers will be able to take the next step toward a fully integrated model-based approach.
Model-based design helps customers design, co-ordinate, and manage information about the entire building.
This permits building information to become available for downstream functions like structural engineering, construction estimating and bidding and facilities management.
Revit is next generation technology and is well suited to specific customer segments like retail, hospitality, and construction - new customer targets for Autodesk - and complements Autodesk's current product offerings.
As a result of the acquisition, Autodesk will be able to offer customers greater efficiency through technology at any point of a building's lifecycle.
"Our combined technologies will be a catalyst for the worldwide building industry to adopt model-based design, construction and management", said David Lemont, Revit Technology CEO.
"We can finally fulfil the longstanding desires of building professionals to achieve real process change.
Building professionals will have the ability to integrate an intelligent building model into their practice and begin to use architectural design in downstream applications".
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