Autodesk and Softdesk Amend Merger Agreement.SAN RAFAEL San Rafael (săn rəfĕl`), residential city (1990 pop. 48,404), seat of Marin co., W Calif., a suburb of San Francisco on the northern shore of San Francisco Bay; inc. 1913. , Calif.--(BUSINESS WIRE)--Dec. 19, 1996--Autodesk, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADSK ADSK Autodesk, Inc. (NASDAQ stock symbol) ), and Softdesk, Inc. (NASDAQ: SDSK SDSK Sep Doo Soo Kai (association) ) announced today that they have amended their definitive merger agreement. The amendment increases the purchase price to $15.00 per share for Softdesk shareholders, payable in Autodesk common stock based on the average closing prices on the Nasdaq National Market for the five trading days immediately preceding the closing date. The merger is intended to be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. , and is subject to approval of Softdesk's stockholders and appropriate government agencies. "We have increased the purchase price principally in response to an indication of interest received by Softdesk from a third party," said Carol Bartz, Autodesk's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We are committed to this combination and to the strategic vision it represents in providing comprehensive AEC AEC US Atomic Energy Commission Noun 1. AEC - a former executive agency (from 1946 to 1974) that was responsible for research into atomic energy and its peacetime uses in the United States Atomic Energy Commission solutions to our customers, while at the same time positioning the combined companies for long-term growth." "Softdesk is committed to the merger with Autodesk as it reflects our dedication to the AEC industry and allows us to carry out our long-term strategic vision, and benefits our customers," said Dave Arnold, CEO of Softdesk. Risks Any forward-looking statements in this release are necessarily subject to uncertainties based on various factors, including: whether the closing conditions to the acquisition of Softdesk will be satisfied and the acquisition consummated; the ability of Autodesk to obtain pooling of interests accounting treatment; the ability to successfully manage the integration of the two companies; business conditions in the AEC markets worldwide; and product release cycles and competitive conditions. Further information on potential factors which could affect the financial results of Autodesk and Softdesk are included in Autodesk's Report on Form 10-Q Form 10-Q See 10-Q. for its third fiscal quarter ended October 31, 1996 and Softdesk's Quarterly Report on Form 10-Q for its third fiscal quarter ended September 30, 1996, each of which are on file with the Securities and Exchange Commission. About Softdesk Softdesk, the AEC Authority, is a leading supplier of Architecture, Engineering and Construction application software for professionals and consumers worldwide. Its award-winning products are used by the world's foremost firms to design and engineer all types of projects involving land, buildings, transportation infrastructure and environmental resources. The company produces over 50 software solutions, which are available in several languages and sold in more than 100 countries. Softdesk offices around the globe support an international network of more than 450 distributors and resellers. Visit Softdesk's World Wide Web site at http://www.softdesk.com . About Autodesk Autodesk is the world's leading supplier of PC-based design software and PC multimedia tools. The Company's 2D and 3D products, geographic information systems geographic information system (GIS) Computerized system that relates and displays data collected from a geographic entity in the form of a map. The ability of GIS to overlay existing data with new information and display it in colour on a computer screen is used primarily to , and data management tools are used in many industries for mapping, architectural design This article or section may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. , mechanical design, film and video production, video/game development and Web content development. Its Kinetix division is the leader in PC-based 3D modeling and animation software, providing a full range of products for digital media and design professionals. The fourth largest PC software company in the world, Autodesk has three million customers in nearly 130 countries. For more information on Autodesk, call 415/507-5000, type GO ADESK on CompuServe, or visits its World Wide Web site at http://www.autodesk.com . Kinetix can be reached by calling 800/879-4233 or through its World Wide Web site at http://www.ktx.com . Autodesk shares are traded on the NASDAQ National Market under the symbol ADSK. -0- Note to Editors: Autodesk, the Autodesk logo and AutoCAD are registered trademarks; Object ARX is a trademark of Autodesk, Inc. Softdesk and the Softdesk logo are registered trademarks of Softdesk, Inc. The AEC Authority is a trademark of Softdesk, Inc. These trademarks are in effect in the USA and other countries. CONTACT: Autodesk, Inc. Christine Tsingos, 415/507-6704 or Softdesk, Inc. John Rogers John Rogers may refer to: Europeans
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion