EQT is pleased to announce that EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Innovyze (“the Company”) to Autodesk (NASDAQ: ADSK) for an Enterprise Value of USD 1,000m ($ 1Bn).
Innovyze was established in 1996 to provide wet infrastructure software solutions. In 2017, Innovyze merged with XP Solutions to become the leading global provider of smart water infrastructure software solutions designed to meet the technological needs of water / wastewater utilities, government agencies and engineering organizations worldwide. As the largest pure-play water-focused software provider, Innovyze offers a full suite of water-focused products that span the infrastructure lifecycle. Innovyze is headquartered in Portland, Oregon and has offices in California, Colorado, Canada, the UK and Australia.
With the support of EQT, Innovyze transformed into a standalone global leader in the smart water infrastructure software space. Innovyze and XP Solutions were separately carved out from international public engineering companies by EQT and merged to form Innovyze. Since then, significant investments were made to build out the Company’s executive team and integrate the businesses. Together with management, EQT supported Innovyze in realigning the sales organization to serve the complex technical sales process and pivot to an enterprise selling approach. Substantial investments were also made in product development to strengthen the Company’s asset management solution and to extend the product portfolio into cutting-edge real-time operational analytics and artificial intelligence offerings.
Source: Cision PR NewsWire
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