Autodesk Inc. (
recently announced that it has completed the acquisition of
Allpoint Systems LLC. However, Autodesk did not disclose the
terms of the transaction.
Pittsburgh, PA based Allpoint develops software that collects
and processes 3D LIDAR point cloud data for the roadway and
building markets. LIDAR is an optical remote-sensing technique,
which is emerging as a cost-effective alternative to traditional
survey technologies. LIDar produces mass point cloud datasets
that can be managed and analyzed using Allpoint
Autodesk will integrate the Allpoint technology into its
Reality Capture Group, which will further expand its capability
in creating digital models of physical objects and spaces.
Allpoint technology adds to Autodesk's earlier acquisition of
Alice labs and RealViz.
Autodesk expects the acquisition to have no impact on the
guidance issued on Nov 15, 2012. Currently, Autodesk expects
revenues to be in the range of $570 to $600 million and non-GAAP
EPS in the range of 43 cents to 51 cents for the fourth quarter
of 2013. For 2013, Autodesk expects revenues to be in the range
of $2.28 to $2.31 billion and EPS on a non-GAAP basis in the
range of $1.84 to $1.92.
Acquisitions have played a pivotal part in developing
Autodesk's business over the last couple of years. Autodesk
acquired 23 companies during fiscal 2012 for a total of $221.7
million, significantly higher than $13.5 million in fiscal
Autodesk continues to expand its product portfolio through the
acquisition of small start-ups that are easy to integrate within
its own business line. Acquisitions have also helped it to expand
its cloud-based product offerings in the recent times. In the
first nine months of fiscal 2013, Autodesk acquired 8 companies
that include a number of software-as-a-service (SaaS) providers
for approximately $204.2 million.
We believe that Autodesk will continue to pursue strategic
acquisitions in order to expand its digital prototyping
solutions. These solutions are expected to cater to manufacturers
of all sizes, enhancing their ability to design, visualize and
simulate their products before they are built.
Moreover, the new cloud-based products will boost Autodesk's
subscriber base in the near term. The company is also increasing
its penetration in the mobile market by developing software for
iPad. We believe that these initiatives will boost Autodesk's
top-line growth going forward.
However, foreign exchange fluctuations and sluggish
macroeconomic environment remain the primary headwinds.
Autodesk's high exposure to Europe amid the lingering financial
turmoil in the region keeps us cautious. Moreover, customer
concentration and increasing competition from
are the other headwinds.
Currently, Autodesk has a Zacks Rank #2 (Buy).
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