ADSK » Topics » Robobat

This excerpt taken from the ADSK 10-K filed Mar 20, 2009.

Robobat

In January 2008, Autodesk acquired Robobat S.A (“Robobat”), a privately held company headquartered in Grenoble, France. The acquisition was valued at $42.5 million. Robobat was incorporated into the AEC segment.

The addition of Robobat technology enabled Autodesk to develop structural analysis and detailing solutions that leverage the information at the heart of building information modeling (“BIM”) from design to fabrication. It also complemented Autodesk’s structural engineering software offerings and helped Autodesk provide a more complete set of well integrated solutions to the structural engineering industry.

 

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AUTODESK, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Management’s allocation of the purchase price consideration, based on a valuation of acquired assets and liabilities, is as follows:

 

Developed technologies (5 year useful life)

   $ 8.4  

Customer relationships (6 year useful life)

     9.4  

In-process research and development

     1.8  

Goodwill

     27.6  

Deferred revenue

     (0.7 )

Restructuring reserve

     (0.9 )

Net tangible assets

     (3.1 )
        
   $ 42.5  
        

In-process research and development represents incomplete Robobat research and development projects that had not reached technological feasibility and had no alternative future use as of the acquisition date and was recorded during fiscal 2008 in research and development on the Consolidated Statement of Income.

Customer relationships represent the underlying relationships with Robobat’s existing customers. Goodwill represents the excess of the purchase price over the fair value of the acquired net tangible and intangible assets, and is deductible for tax purposes. Deferred revenue represents the estimated fair value of the support and maintenance obligations assumed from Robobat in connection with this acquisition. Autodesk management approved a restructuring plan directly resulting from the Robobat acquisition and involving the elimination of employees of Robobat (“Robobat Restructuring Plan”). The total restructuring reserve established for this plan was reflected as an allocation item in the total purchase price consideration of the acquisition. The Robobat Restructuring Plan was established in accordance with EITF 95-3. The total estimated cost of the Robobat Restructuring Plan was $0.9 million for severance and outplacement costs.

These excerpts taken from the ADSK 10-K filed Mar 28, 2008.

Robobat

In January 2008, Autodesk acquired Robobat S.A (“Robobat”), a privately held company headquartered in Grenoble, France. The acquisition was valued at $42.5 million. The acquisition closed on January 14, 2008 and is being incorporated into the Architecture, Engineering and Construction (“AEC”) division of the Design Solutions Segment. Integration is expected to be completed in the second quarter of fiscal 2009.

The addition of Robobat technology will enable Autodesk to develop structural analysis and detailing solutions that leverage the information at the heart of building information modeling (“BIM”) from design to fabrication. It also complements Autodesk’s current structural engineering software offerings and will help Autodesk provide a more complete set of well integrated solutions to the structural engineering industry.

Management’s preliminary allocation of the purchase price consideration, based on a valuation of acquired assets and liabilities, is as follows:

 

Robobat:

      

Developed technologies (5 year useful life)

   $ 8.6  

Customer relationships (6 year useful life)

     9.9  

In-process research and development

     1.8  

Goodwill

     25.9  

Deferred revenue

     (0.7 )

Restructuring reserve

     (0.9 )

Net tangible assets

     (2.1 )
        
   $ 42.5  
        

In-process research and development represents incomplete Robobat research and development projects that had not reached technological feasibility and had no alternative future use as of the acquisition date and was recorded during fiscal 2008 in research and development on the Consolidated Statement of Income.

 

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AUTODESK, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Customer relationships represent the underlying relationships with Robobat’s existing customers. Goodwill represents the excess of the purchase price over the fair value of the acquired net tangible and intangible assets, and is deductible for tax purposes. Deferred revenue represents the estimated fair value of the support and maintenance obligations assumed from Robobat in connection with this acquisition. Autodesk estimates that these support and maintenance obligations will be substantially fulfilled by the end of fiscal 2009. Autodesk management approved a restructuring plan directly resulting from the Robobat acquisition and involving the elimination of employees of Robobat (“Robobat Restructuring Plan”). The total restructuring reserve established for this plan was reflected as an allocation item in the total purchase price consideration of the acquisition. The Robobat Restructuring Plan was established in accordance with Emerging Issues Task Force Issue No. 95-3, “Recognition of Liabilities in Connection with a Purchase Business Combination” (“EITF 95-3”). The total estimated cost of the Robobat Restructuring Plan was $0.9 million for severance and outplacement costs.

Robobat

FACE="Times New Roman" SIZE="2">In January 2008, Autodesk acquired Robobat S.A (“Robobat”), a privately held company headquartered in Grenoble, France. The acquisition was valued at $42.5 million. The acquisition closed on January 14,
2008 and is being incorporated into the Architecture, Engineering and Construction (“AEC”) division of the Design Solutions Segment. Integration is expected to be completed in the second quarter of fiscal 2009.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The addition of Robobat technology will enable Autodesk to develop structural analysis and detailing solutions that leverage the information at the heart
of building information modeling (“BIM”) from design to fabrication. It also complements Autodesk’s current structural engineering software offerings and will help Autodesk provide a more complete set of well integrated solutions to
the structural engineering industry.

Management’s preliminary allocation of the purchase price consideration, based on a valuation of
acquired assets and liabilities, is as follows:

 











































































Robobat:

    

Developed technologies (5 year useful life)

  $8.6 

Customer relationships (6 year useful life)

   9.9 

In-process research and development

   1.8 

Goodwill

   25.9 

Deferred revenue

   (0.7)

Restructuring reserve

   (0.9)

Net tangible assets

   (2.1)
     
  $42.5 
     

In-process research and development represents incomplete Robobat research and development
projects that had not reached technological feasibility and had no alternative future use as of the acquisition date and was recorded during fiscal 2008 in research and development on the Consolidated Statement of Income.

STYLE="margin-top:0px;margin-bottom:0px"> 


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AUTODESK, INC.

FACE="Times New Roman" SIZE="2">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 


Customer relationships represent the underlying relationships with Robobat’s existing customers.
Goodwill represents the excess of the purchase price over the fair value of the acquired net tangible and intangible assets, and is deductible for tax purposes. Deferred revenue represents the estimated fair value of the support and maintenance
obligations assumed from Robobat in connection with this acquisition. Autodesk estimates that these support and maintenance obligations will be substantially fulfilled by the end of fiscal 2009. Autodesk management approved a restructuring plan
directly resulting from the Robobat acquisition and involving the elimination of employees of Robobat (“Robobat Restructuring Plan”). The total restructuring reserve established for this plan was reflected as an allocation item in the
total purchase price consideration of the acquisition. The Robobat Restructuring Plan was established in accordance with Emerging Issues Task Force Issue No. 95-3, “Recognition of Liabilities in Connection with a Purchase Business
Combination
” (“EITF 95-3”). The total estimated cost of the Robobat Restructuring Plan was $0.9 million for severance and outplacement costs.

FACE="Times New Roman" SIZE="2">NavisWorks

In June 2007, Autodesk acquired NavisWorks (UK) Limited (“NavisWorks”),
a privately-held company, for cash consideration of approximately $26.0 million and a note payable of $2.6 million due in June 2008. Autodesk incorporated NavisWorks into the Architecture, Engineering and Construction Division of the Design
Solutions Segment. NavisWorks provides 3D coordination, collaboration and sequencing in design and construction. This acquisition is intended to increase the interoperability of Autodesk’s 3D model-based design software by coordinating design
information from multiple sources.

Management’s preliminary allocation of the purchase price consideration, based on a valuation of
the acquired assets and liabilities, is as follows:

 











































































NavisWorks:

    

Developed technologies (6 year useful life)

  $6.5 

Customer relationships (6 year useful life)

   5.5 

Trade name (6 year useful life)

   0.6 

In-process research and development

   1.0 

Goodwill

   9.3 

Deferred revenue

   (1.1)

Net tangible assets

   7.3 
     
  $29.1 
     

In-process research and development represents incomplete NavisWorks research and development
projects that had not reached technological feasibility and had no alternative future use as of the acquisition date, and was recorded during the second quarter of fiscal 2008 in research and development on the Consolidated Statement of Income.

Customer relationships represent the underlying relationships and agreements with NavisWorks’ existing customers. Trade name
represents the estimated fair value of NavisWorks’ trade name and trademarks. The $9.3 million of goodwill, which represents the excess of the purchase price over the fair value of the acquired net tangible and intangible assets, is deductible
for tax purposes. Deferred revenue represents the estimated fair value of the support and maintenance obligations assumed from NavisWorks in connection with this acquisition. Autodesk estimates that these support and maintenance obligations will be
substantially fulfilled by the beginning of fiscal 2009.

 


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AUTODESK, INC.

FACE="Times New Roman" SIZE="2">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 


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