“If they get it right, Hexagon can bring the sales and marketing resources that Bricsys needs to really disrupt the market,” says Dan Roberts, a senior consultant with Cambashi Limited, a Cambridge, UK engineering business analysis firm.
More than 1,000 third-party BricsCAD developers have sprung up in recent years, providing niche products for small markets. Outside North America, design companies have been more receptive of BricsCAD as an AutoCAD alternative. There is some unrest in the Autodesk user community over licensing requirements and the nature of required product portfolios. “We were worried about the longevity of our company.” “Entering into the US market showed us we needed a bigger presence,” says Bricsys co-founder and CEO Eric De Keyser, who will remain chief of the Bricsys unit inside Hexagon. Engineering software companies generally sell for 2x to 5x annual revenue, depending on factors that include user base, perceived value of technology, and potential synergy.īricsys, based in Ghent, Belgium, has known modest success in Europe and Asia, but until now has very low sales in North America, the home of its giant rival Autodesk. Hexagon did not disclose the purchase price, but did say Bricsys revenue in 2017 was approximately 13 million euros. Approximately 300 third-party developers, dealers, Bricsys and Hexagon staff, and press attended the annual event. The move gives Bricsys the resources it needs to build greater market presence for its alternative to the Autodesk AutoCAD ecosystem.Īnnouncing the acquisition was the first order of business at the annual Bricsys Development Conference, October 23 in London. Infrastructure and design technology conglomerate Hexagon AB has acquired the small but ambitious CAD developer Bricsys NV, maker of the.
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