Autodesk agreed Feb. 24 to acquire Innovyze—a provider of smart water infrastructure modeling, simulation, and predictive analysis technology—for $1 billion in cash. It is the largest-ever price for any Autodesk acquisition and one of a group of 14 technology investments by the San Rafael, Calif.-based maker of AutoCAD. For comparison, Autodesk's BIM platform, Revit, was acquired for $133 million in 2002 dollars.
Innovyze is a Portland, Ore.-based provider of water infrastructure modeling and simulation technology. It was established as a company in 1996 as a subsidiary of engineering firm MWH Global, Inc. and has contributions from Stantec, Wallingford Software and EQT Partners, the owner that sold it to Autodesk, in its corporate history. EQT Partners bought Innovyze from Stantec for $270 million in 2017.