Autodesk Confirms Proposal to Acquire Altium Limited, Leader in Electronic Design Software

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SAN FRANCISCO, June 6, 2021 / PRNewswire / – Autodesk, Inc. (NASDAQ: ADSK) today confirmed that it has submitted a non-binding proposal to acquire all of the outstanding common shares of Altium Limited (ASX: ALU) for AUD 38.50, to be put into implemented by way of a plan of arrangement.

Altium is a global software publisher headquartered in San diego, california and listed on the Australian Securities Exchange. The company develops software used by printed circuit board (PCB) designers and electrical engineers in organizations around the world to deliver connected and intelligent products.

The proposed combination would advance Autodesk’s strategy of converging design and manufacturing through a unified design, engineering and manufacturing cloud platform that enables increased productivity and sustainability for its customers. Autodesk believes Altium’s solutions would complement its portfolio, creating unique opportunities for customers while delivering significant, definite and immediate value to Altium shareholders. Proposal represents a 41.5% premium over Altium’s closing price of AUD 27.21 June 4, 2021, one business day before Altium announced Autodesk’s proposal and a premium of over 47.4% over the month’s volume weighted average price. Autodesk intends to fund the transaction using cash and debt financing.

The proposal is indicative, non-binding, and subject to a number of conditions including, but not limited to, satisfactory completion of due diligence, unanimous recommendation in favor of the transaction by the board of directors of ” Altium, the agreement between Autodesk and Altium and the execution of a plan implementation agreement incorporating the usual terms and conditions for a transaction of this nature, the approval of Altium shareholders and the court, the receipt of all applicable regulatory approvals and no material adverse changes to Altium.

There is no certainty that a transaction will ultimately be accepted or as to the terms on which such a transaction, if any, could take place. Autodesk does not intend to comment further on this matter unless and until it deems it appropriate or a final agreement has been reached.

Safe Harbor Declaration
This press release contains “forward-looking statements” that involve risks and uncertainties regarding the proposed acquisition of Altium Limited and the expected benefits of the proposed acquisition. There is no certainty that a transaction with Altium will ultimately be accepted or as to the terms on which such a transaction, if any, could take place. In addition, Autodesk’s financing plans for such a transaction, if any, may change based on credit markets and other factors. Further information on potential factors that could affect Autodesk’s financial results is included in Autodesk’s Form 10-K and subsequent Forms 10-Q, which are filed with the U.S. Securities and Exchange Commission. United. Autodesk assumes no obligation to update any forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Autodesk
Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great movie, there’s a good chance you’ve seen what millions of Autodesk customers are doing with our software. Autodesk gives you the power to do it all. For more information, visit autodesk.com or follow @autodesk.

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SOURCE Autodesk, Inc.

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