PointFuse’s sale of its advanced segmented 3D mesh model technology to Autodesk
PointFuse
Our corporate team was approached by PointFuse, a UK-based segmented 3D mesh software provider with whom partner Richard Wrigley had held a long-standing relationship spanning acquisitions, reorganisations, and funding rounds, to represent the company in an unusual and complex deal. Rather than a conventional entity sale, this matter centred on the sale of PointFuse’s core IP and technology, to US-based multinational software corporation, Autodesk.
Client service and legal expertise combined with a collaborative spirit
PointFuse specialises in revolutionary software solutions for the processing and managing of 3D point cloud data. Its technology converts dense point clouds, which are captured by 3D scanners, into intelligent segmented 3D mesh models – allowing users to accurately create 3D digital models from scans of real-world objects and environments. This automation drastically reduces the time and effort required for manual processing, ensuring high levels of accuracy and precision.
Founded in the US, Autodesk is a global leader in designing software for a range of users, from architects, builders, engineers, and designers, to manufacturers, 3D artists and production teams. Its technology ecosystem includes renowned tools such as AutoCAD and Revit. The strategic acquisition of PointFuse would significantly expand Autodesk’s capabilities in the realm of 3D point cloud data processing, with the integration of the PointFuse technology into its ReCap Pro software providing a seamless experience for users from scanning to modelling. This deal would ultimately reinforce Autodesk’s market leadership in the architectural, engineering, and construction industries.
The stakes for both parties were high and there were several complexities in the deal that our team had to address. This began with the identification of the assets for sale, including a significant analysis of chain of title and how IP had been created in this market-leading technology – which was essential for a smooth transaction. The team also had to create a bespoke solution for transitional services for PointFuse, to ensure it could continue its contractual obligations to its customer base until their contracts terminated in 2025 (PointFuse’s customer base was not being transferred over to Autodesk as part of the deal). To resolve this, some IP title transferred over to Autodesk was simultaneously licensed back to PointFuse.
Additionally, the team had to navigate employee transfers while safeguarding project continuity. Many of the employees who were transferred over to Autodesk as part of the deal were central to PointFuse being able to maintain service to its existing customers, and this had to be provisioned for.
Key takeaways
Legal expertise and innovation
The deal was highly complex, as rather than focusing on the sale of PointFuse as an entity to Autodesk (a more mainstream approach in these type of transactions), this was a sale of its core IP. Creative solutions for asset severability and licensing back to PointFuse were key to the success of the deal.
Teamwork and collaboration
The deal involved multidisciplinary teamwork across Penningtons Manches Cooper’s practice areas – including cross-border corporate, IP, IT, and commercial, and employment services – to create the necessary bespoke solutions for our client to successfully complete the deal.
Project management considerations
The team had to deal with the project management aspects of coordinating with shareholders, loan note holders, related businesses, and client-side executives – some of whom had commercial interests that needed to be retained in certain areas, which added to the complexity of the transaction.
Handling the deal’s international elements
The deal also required significant transatlantic cooperation to effectively resolve various aspects concerning US law and practice. The team worked closely with Polsinelli, a US-based law firm that the team collaborates with regularly as part of our leading membership of the Multilaw network. Separately, to enhance collaboration with Autodesk, Richard Wrigley, lead partner, made a strategic trip to the US, working in AutoDesk’s offices.
Client satisfaction and value delivered
Richard has held a long-standing relationship with PointFuse for over 10 years, advising them from the start on the setup of their company, right through to this deal – a demonstration of the value we deliver to clients over a sustained period of time.
Key facts
15,300
Number of employees at Autodesk
70%
How much the PointFuse flexible toolset reduces time to delivery by
2012
Founding of PointFuse
We are very excited to see the integration of the PointFuse technology into Autodesk’s ecosystem. Thanks to Penningtons Manches Cooper for their expertise and unwavering support.
Meet our team
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