Autodesk Introduces New Engineering Software, Cloud Platform
March 27, 2012
Autodesk Inc. (ADSK), a maker of architectural and engineering software, unveiled new design software and a revamped cloud-computing platform called Autodesk 360 that lets customers use the programs over the Internet.
The new package include design, engineering and entertainment software, the San Rafael, California-based company said today. It connects to Autodesk 360, letting users store, edit and share their designs. The system also enables customers to tap as much computing power as they need, Autodesk said…
The largest seller of engineering and design software is shifting more of its product development toward applications that can be delivered over the Web, in addition to being installed on users’ personal computers. Autodesk is also building software for smartphones and Apple Inc.’s iPad, such as its SketchBook application, which can create drawings and paintings on touch screens.
Autodesk competes with Bentley Systems Inc. and Dassault Systemes SA in the engineering software market. Chief Executive Officer Carl Bass has estimated that the “vast majority” of software will be delivered via cloud computing within five years, and that such programs will increase processing power to save engineers time.
The company generated $2.2 billion in revenue in its last fiscal year, up 14 percent from a year earlier.
Autodesk shares rose less than 1 percent to $42.48 at 12:26 p.m. in New York. The shares have gained 40 percent this year after tumbling 21 percent in 2011.
Resellers of the company’s software are signing larger deals from software suites and cloud-computing products, Brendan Barnicle, an analyst at Pacific Crest Securities LLC in Portland, Oregon, said this month in a research note. Barnicle has an outperform rating on the shares.