An interesting fact about Addnode Group is that they actually own two of the world’s largest VARs of two of the major players in the PLM world, Dassault Systemes and Autodesk (AD). Both of these partner companies also have global ambitions:
• On the one hand, it is about Symetri, which has developed into one of the largest partners in the Autodesk world. As part of the Addnode Group, it is the major player in the group’s Design Management leg, with all the important AD software on the program, including solutions for construction and infrastructure such as Revit (building and infrastructure design), AutoCAD, Civil 3D (land, road, railway, and VA design), Navisworks (combines 3D models from different sources) and Autodesk Construction Cloud, as well as software for product design such as the cloud platform Fusion (CAD/CAE/CAM/PCB design), Inventor (CAD) and Alias (VIZ and advanced 3D modeling). Autodesk Forma for urban and residential development and simulation tools, such as Autodesk CFD, are also part of the portfolio. In addition, Symetri has its own solutions, Naviate (Revit and Civil 3D add-ons), Sovelia (PLM), and CQ (CAD installation, configuration, and maintenance).
• TECHNIA, which is a more high-end-oriented consultant in advanced PLM and is Dassault Systemes’ largest global VAR (Value Added Reseller). The company is the leading player in one of Addnode’s three important legs: PLM.
Holistic and data-driven solutions in focus
SolidCAD was founded in 1996 and is headquartered in Richmond Hill, Ontario. The company is Canada’s leading Autodesk Platinum Partner and a Sapphire Partner of Bluebeam. The company supports more than 6,000 customers who innovate, collaborate and accelerate their digital transformation. With this acquisition, Symetri now serves over 30,000 customers worldwide.
Johan Andersson further points out that the acquisition of SolidCAD is in line with the group’s growth strategy and recently updated financial targets.
”Symetri has successfully grown organically and by acquiring and integrating other Autodesk partners, supported by a strong portfolio of proprietary software and professional services. This acquisition will strengthen Symetri, create value for our shareholders and open up further opportunities to leverage our presence in the Canadian market,” he says.
In this context, it can also be emphasized that the federal investments in Canada in sustainable infrastructure and construction, combined with acute labor shortages, are driving demand for efficient, technology-driven solutions and creating a fertile ground for Symetri’s productivity and sustainability offerings.
Symetri’s CEO, Jens Kollserud, added that the global network of professional expertise and next-generation tools, including their own products Naviate, Sovelia and CQ, that Symetri has, ”will provide Canadian customers with the capacity and capability to improve data quality, configure solutions more efficiently and drive innovation. The acquisition positions Symetri to accelerate its next phase of growth in a stable, innovation-driven market.”
SolidCAD will be Consolidated in Addnode’s Subsidiary Symetri
The acquisition is structured as an asset purchase, whereby Symetri acquires SolidCAD’s business and assets. The purchase price upon acquisition amounts to SEK 850 million (around 90 million USD), and an adjustment will be made for the value of assumed working capital items upon acquisition. In addition to the payment upon acquisition, an additional purchase price of a maximum of SEK 204 million (around 21 million USD) is dependent on future financial results. Addnode Group will finance the acquisition with an extension of existing credit lines.
The acquisition of SolidCAD is expected to have a positive impact on Addnode Group’s earnings per share from the time of consolidation.
Moreover, the acquisition is subject to closing conditions related to the transfer of assets. Acquisition is planned for the end of October 2025. SolidCAD will be consolidated as part of Addnode Group’s Design Management division and its subsidiary Symetri.
Effects of Autodesk’s Changed Business Model
So, how are Addnode and Symetri doing? When Addnode’s figures for Symetri’s second quarter 2025 were reported during the summer, the company exceeded expectations, despite Autodesk having significantly changed its resellers’ business conditions.
In the report on July 14, 2025, for the second quarter of 2025, sales actually fell 27.3 percent to SEK 1,457 million –138,2 million USD– (compared to SEK 2,005 million last year, 191,5 million USD). But the result itself was received positively because it exceeded market expectations. The reason why reported revenue fell significantly is Autodesk’s changed business model, where they have taken over customer billing themselves and then send the reseller’s share to, in this case, Symetri. Previously, the entire billing loop was managed by the reseller.
Addnode wrote in the quarterly report that organic growth would have been 34% if they had reported in the same way this year as before. On the other hand, the EBITA result amounted to SEK 238 million (around 25 million USD) compared to SEK 162 million (around 17 million USD) for the corresponding period last year, with an EBITA margin of 16.3 percent (8.1).
Clearly, CEO Johan Andersson has successfully run the group since taking the top job in 2017. The latest purchases show that the goal is set for continued expansion. With good diversification overall in the group, the prospects also continue to look very promising:
”When we look ahead, we are confident in our companies’ ability to adapt their offering and organization to demand and economic conditions,” Johan Andersson commented on the development after the July report.
The $100 million acquisition of SolidCAD has the potential to strengthen Addnode’s and Symetri’s upward-pointing business curves. The stock market’s immediate reaction to the purchase was positive – up 10%.
