Mergers and Acquistions News
Categories: IT Services & Consulting
October 24th 2008, 17:03PM
US industrial design software company Autodesk has agreed to acquire Softimage from Avid Technology in a deal worth $35 million (£22 million).
Montreal-based Softimage creates 3D technology for use in the television, film and gaming sectors.
Once completed, the acquisition will result in Softimage's core products being developed and sold by Autodesk Media & Entertainment, with other technology to be integrated into future Autodesk solutions.
Softimage's core products include Softimage XSI, an extensible 3D animation software program currently used by companies such as Ubisoft, Sega, Capcom and The Mill.
"The Softimage 3D product line has performed well in the video games market, a sector where Autodesk has a track record of success. Autodesk will provide a great home for the business," remarked Gary Greenfield, chief executive and chairman of Avid Technology.
Autodesk's most well-known product is AutoCAD. Its other solutions include 3ds Max, Inventor and Maya, as well as Revit for the building design sector.
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