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Autodesk Acquires Assemble Systems In Cash And Stock Deal - Quick Facts

Autodesk, Inc. (ADSK) announced the acquisition of Assemble Systems, Inc. The Salem, Massachusetts-based Assemble Systems provides a SaaS solution that enables construction professionals to condition, query and connect BIM data to key workflows across bid management, estimating, scheduling, site management and finance. Over time, Assemble Systems' solution will be integrated with Autodesk's new BIM 360 project management platform.

Assemble Systems' products are used by 174 customers, in nearly 1,000 sites and offices working on 12,700 projects, including one-fourth of the ENR 400 customer list.

Autodesk said the transaction is expected to have no impact on its guidance issued on May 24, 2018. Autodesk used a combination of cash and stock to finance the transaction. The company has committed to offsetting the shares issued for the transaction within the current quarter through its ongoing stock repurchase program.

by RTTNews Staff Writer

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