November 7, 2013 / 7:39 AM / in 4 years

Autodesk to buy Britain's Delcam for $277 million

(Reuters) - Autodesk Inc, a maker of computer-aided design (CAD) software, said it would buy Britain’s Delcam Plc for 172.5 million pounds ($277 million), in a deal to expand the U.S. company’s software offerings in the manufacturing sector.

Autodesk offered 20.75 pounds per share, a premium of 21 percent to Delcam’s Wednesday close on the London Stock Exchange.

Autodesk said it expects to use non-U.S.-based cash for the deal.

“Together Autodesk and Delcam will help further the development and implementation of technology for digital manufacturing,” Autodesk Chief Executive Carl Bass said in a statement.

Birmingham-based Delcam is a supplier of advanced CADCAM and industrial measurement solutions for the manufacturing industry.

Autodesk expects the deal to be dilutive to its non-GAAP earnings in fiscal 2015, while adding to its non-GAAP earnings in fiscal 2016. ($1 = 0.6219 British pounds)

Reporting by Sakthi Prasad in Bangalore; Editing by Supriya Kurane

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below