Autodesk agreed to acquire maintenance and asset operations platform MaintainX for approximately $3.6 billion in cash. This transaction represents the largest acquisition in the company's history. The deal expands Autodesk's platform from design into operational management. Management expects the acquisition to increase its total addressable market by $40 billion. The move aims to accelerate the company's digital twin strategy.
Autodesk reported first-quarter revenue of $1.93 billion. Adjusted earnings per share reached $2.99 for the quarter. The company raised its full-year guidance following the report.
Shares fell approximately 7% in pre-market trading following the announcement. Investors cited concerns over the high acquisition price and potential integration challenges.