By DE Editors
Autodesk, Inc. (San Rafael, CA) has signed a definitive agreement to acquire analysis and simulation software developer ALGOR, Inc. (Pittsburgh, PA) for approximately $34 million. The acquisition will strengthen the Autodesk solution for digital prototyping with advanced simulation functionality, including multiphysics, mechanical event simulation, and fluid flow, according to a press statement released by Autodesk.
Robert "Buzz" Kross, senior vice president of Autodesk Manufacturing Solutions was quoted in the same press statement as saying that "the acquisition of ALGOR will add significant new capabilities to virtually test and predict the impact of simultaneous real-world conditions like heat and pressure on product designs."
ALGOR’s CAE (computer aided engineering) software is used for product design and development in the automotive, aerospace, medical, consumer products, defense, energy and utilities industries. The company was founded by Michael Bussler in 1976. Mr. Bussler currently serves as president of ALGOR. The announcement made no mention of any future role for Bussler post-acquisition.
The transaction is subject to customary closing conditions, and is expected to close in the fourth quarter of fiscal 2009.
Source: Press materials gleaned from the company’s website.