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Autodesk To Acquire Upchain For Faster Cloud Data Transport

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  • Software company Autodesk Inc (NASDAQ: ADSK) inked an agreement to acquire instant-on, cloud-based product lifecycle management (PLM) and product data management (PDM) solutions provider, Upchain.

  • The acquisition increased Autodesk’s association across the decentralized product value chain, irrespective of the CAD system.

  • Upchain had created a unified cloud platform by eliminating the PLM and PDM technologies’ barriers by putting data at the center of the product development process.

  • The financial terms of the transaction were not disclosed.

  • Autodesk customers will be able to transport data by integrating Upchain with its existing offerings easily, Autodesk CEO Andrew Anagnost said.

  • Autodesk acquired water infrastructure software provider Innovyze for $1 billion in Feb.

  • Autodesk held $1.8 billion in cash and equivalents as of Jan. 31, 2021.

  • Price action: ADSK shares traded higher by 1.84% at $299.76 on the last check Thursday.

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