Autodesk To Buy BuildingConnected For $275 Mln Net Of Cash Acquired

( - Autodesk Inc. ( ADSK ) said it has signed a definitive agreement to acquire BuildingConnected for $275 million net of cash acquired.

The transaction is subject to customary closing conditions and is expected to close during Autodesk's fourth quarter of fiscal 2019, ending January 31, 2019. The acquisition will have no material impact on Autodesk's fourth quarter and fiscal year 2019 guidance issued on November 20, 2018.

For fiscal year 2020, Autodesk expects an immaterial revenue and Annualized Recurring Revenue benefit from BuildingConnected and a slightly dilutive impact to profitability and cash flow. Inclusive of the transaction, the company is maintaining its free cash flow goal for the year.

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