Venture Capital: Norway-based Urban Planning Startup Spacemaker Acquired For $240M
Autodesk signed a deal to buy Spacemaker for $240 million net of cash.
Autodesk (NASDAQ: ADSK), a company that makes software for the engineering and design industries, has acquired Spacemaker, a startup developing cloud-based AI software, empowering users to collaborate, analyze and design real estate sites, and urban planners to envision cities. (CISION PR Newswire).
Spacemaker’s software is AI-enabled. The software makes it easy for design professionals to evaluate multiple system-generated design options for a project. This could be a building or urban development.
The AI backbone of the software allows rapid generation and evaluation of optimized solutions giving weightage to design criteria and data like terrain, maps, wind, lighting, traffic, zoning, etc. This is especially useful during the early-stage design of the project.
“With two billion more people expected to call our planet home by 2050, speed of design and sustainability in urban planning must be priorities,” said Andrew Anagnost, CEO and President of Autodesk, in a statement. “Spacemaker technology offers a fundamental shift in how we imagine and build cities to keep people and the planet healthy.”
What’s in it for Autodesk
Early adopters of Spacemaker have been primarily real estate developers, a segment that is not actively covered in Autodesk’s range of services.
Nevertheless, Autodesk expects the acquisition to provide a significant early-stage design opportunity with adjacent synergy to Autodesk’s existing detailed design platform.
It would also accelerate Autodesk’s ability to deliver outcome-based design with design assistance.
Autodesk describes Spacemaker AI as “potentially disruptive technology that will serve as a centerpiece for the future of design.”
Autodesk will acquire 100% of Spacemaker’s outstanding shares.
It will finance the acquisition with cash on hand. Further, Spacemaker AI will join the Autodesk team reporting to Amy Bunszel, Senior Vice President, AEC Design Solutions, Autodesk.
The transaction will close in Autodesk’s fourth quarter of fiscal 2021, ending January 31, 2021.
Related Story: Blockchain And AI Combine To Optimize Car Parking In Munich
Latest Alternative Investment News
TD Asset Management announced Tuesday the launch of three new ESG Equity ETFs to cater to investors looking for exposure to equity market indexes and companies with an ESG edge….
Speaking Tuesday on CNBC’s Squawk Box, Mike Novogratz, CEO of Galaxy Digital, said large investors appeared to be switching their gold holdings to bitcoin, judging from the outflows seen recently…
Voi Technology’s haul of $160 million is a mix of debt and equity in a Series C round led by The Raine Group, with participation by existing investors such as…
In an article in a newly released book from the central government explaining the country’s economic priorities and development plan for 2035, Guo warned of a disturbance in global financial…