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Autodesk to acquire water infrastructure software maker Innovyze for $1 billion

Economy, Finance

Autodesk Inc. said Wednesday it has agreed to acquire Portland, Oregon-based Innovyze Inc., a provider of water infrastructure software, for $1 billion. There are currently more than 2 billion people who lack access to safe drinking water and more than two-thirds of the world population is expected to live in water-stressed regions by 2025. “An estimated $1.9 trillion is required to address global water infrastructure needs by 2030, 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,” Autodesk Chief Executive Andrew Anagnost said in a statement. The deal is expected to close in the first quarter of fiscal 2022, ending April 30. Autodesk shares were slightly lower premarket, but have gained
49% in the last 12 months, while theS&P 500 has gained 16%.

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