8-KOther Events

Autodesk, Inc. 8-K Report (Apr 16, 2002)

Filed April 16, 2002For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) has filed an 8-K report on April 16, 2002, detailing the completion of its acquisition of Revit Technology Corporation on April 1, 2002. This strategic move involved the acquisition of all outstanding stock of Revit for $133 million in cash. The acquisition is expected to bolster Autodesk's offerings in the building design, construction, and management sectors with Revit's parametric building technology. Investors should note that this acquisition represents a significant cash outlay and integration effort for Autodesk. The company assumed Revit's unvested stock options and restricted stock, converting them into Autodesk equivalents based on an established exchange ratio. The report also includes the Agreement and Plan of Merger as an exhibit, providing further details on the transaction terms. This acquisition signals Autodesk's commitment to expanding its technological capabilities within the architectural, engineering, and construction (AEC) industry.

Key Highlights

  • 1Autodesk acquired Revit Technology Corporation on April 1, 2002.
  • 2The acquisition price was $133 million in cash.
  • 3Revit develops parametric building technology for the AEC industry.
  • 4Revit has become a wholly-owned subsidiary of Autodesk.
  • 5Autodesk assumed Revit's outstanding stock options and restricted stock, converting them into Autodesk securities.
  • 6The transaction was structured as a statutory merger through a wholly-owned subsidiary, Rosie Acquisition Corporation.
  • 7The Agreement and Plan of Merger dated February 21, 2002, is filed as an exhibit.

Frequently Asked Questions

Autodesk acquired Revit Technology Corporation to integrate its advanced parametric building technology, which is designed for building design, construction, and management. This acquisition is aimed at strengthening Autodesk's product portfolio and competitive position within the architectural, engineering, and construction (AEC) industry.

Autodesk paid $133 million in cash to acquire Revit Technology Corporation.

Autodesk assumed Revit's unvested stock options and outstanding shares of restricted common stock. These were converted into equivalent options and restricted shares of Autodesk common stock, based on the acquisition's share exchange ratio.

Yes, Revit Technology Corporation became a wholly-owned subsidiary of Autodesk following the completion of the acquisition through a statutory merger.