LAS VEGAS--(BUSINESS WIRE)--CES — Autodesk, Inc. (NASDAQ: ADSK) has completed the acquisition of technology and the development team of Circuits.io, a web-based app and connected community for designing and simulating electronic circuits. Autodesk partnered with the Circuits.io team to introduce Autodesk 123D Circuits in 2013, and through this acquisition Autodesk intends to expand its offering of technology for electronic circuit design and simulation. Terms of the transaction were not disclosed.
“The rise in affordable, programmable microprocessors like the Arduino, paired with components like sensors and input/output boards, are creating new opportunity for gadget makers and inventors. Autodesk works with a large and passionate community of electronics-focused users, with over 2000 Instructables leveraging Arduino and circuitry-based projects on Instructables.com,” said Samir Hanna, vice president, Autodesk Consumer Group. “We are excited to welcome the Circuits.io team and community to Autodesk, and look forward to developing new tools to help these users unlock their creativity.”
Autodesk released 123D Circuits in September 2013, which expanded on the existing Circuits.io app by adding a breadboard view, and let users run code and simulate circuits in the app. Since this time, the community has grown to more than 30,000 users. 123D Circuits users can create projects ranging from simple, blinking LED to the autopilot circuitry for flying drones. Users have the ability to share circuits with the community, and to start new projects based on a circuit created by other members of the community. In addition users can order custom circuit boards of what they’ve designed in the app to be manufactured and shipped to them. As part of this acquisition, Autodesk plans to migrate all Circuits.io accounts to 123D accounts, and both “Maker” and “Professional” level members will receive 123D Premium membership as part of this migration.
This transaction is expected to have no impact on guidance issued on November 21, 2013.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding: the impact of the acquisition on Autodesk's guidance issued on November 21, 2013, business performance, and circuit design and simulation product and services offerings, the impact of the acquired technology on Autodesk's circuit design and simulation products and services capabilities, the impact of the combined product capabilities, and Autodesk’s intention to expand its offering of technology for circuit design and simulation. Factors that could cause actual results to differ materially include the following: difficulties encountered in integrating merged businesses; costs related to the acquisition; whether certain markets grow as anticipated; the competitive environment in the software industry and competitive responses to the acquisition; our success developing new products or modifying existing products and the degree to which these gain market acceptance; general market and business conditions; and any unanticipated impact of accounting for acquisitions.
Further information on potential factors that could affect the financial results of Autodesk are included in the company's annual report on Form 10-K for the year ended January 31, 2013, and Form 10-Q for the quarter ended October 31, 2013, which are on file with the Securities and Exchange Commission. Autodesk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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Autodesk, Instructables and 123D are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
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