Compass bought for 13 million Euros

Autodesk has announced an agreement to acquire all the assets of Compass Systems, a European-based developer of data management solutions, for 13 million Euros.


Autodesk has announced an agreement to acquire all assets of Compass systems, a European-based developer of data management solutions, for 13 million Euros.



Autodesk said in a statement that Compass, a leader in the European data management market, has more than 20,000 users of its products in 1,800 manufacturing companies.



San Rafael, California-based Autodesk plans to continue offering Compass products in key European markets and supporting Compass customers, while utilising Compass systems’ experience in its continuing development of Autodesk’s data management solution, featuring Autodesk Productstream.



“This is a clear indicator of our commitment to be a major player in the Product Lifecycle Management market,” said Robert Kross, vice president of Autodesk’s Manufacturing Solutions Division.



“By combining our collective experience in the data management market with our strength in product design, we are extremely well positioned to extend the value of design information across the manufacturing organisation and supply chain,” added Kross.



The acquisition is expected to close in March 2005.



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