Autodesk Inc. (www.autodesk.com), a developer of Computer Aided Design (CAD software) said it will buy Moldflow Corp. (www.moldflow.com), a developer of software that enables designers to predict how plastic components will perform during the manufacturing process.
Autodesk will pay $297 million minus Moldflow’s cash balance and proceeds from exercising options. Moldflow had revenues of $55.9 million in fiscal 2007. Autodesk expects the transaction to reduce its earnings by 7 cents to 8 cents per share in the second fiscal quarter of 2008 when the deal is expected to close. Adjusted earnings are expected to be reduced by 1 to 2 cents per share in that quarter. For the full 2008 fiscal year Autodesk expects the transaction to decrease its earnings by 10 cents per share.