SAN RAFAEL, Calif., Nov. 18 /PRNewswire-FirstCall/ -- Autodesk, Inc. (NASDAQ: ADSK) today announced that it has completed the acquisition of substantially all of the assets of Softimage - a developer of 3D technology for the film, television and games markets - for approximately $35 million. On October 23, 2008, Autodesk announced it had signed a definitive agreement to acquire Softimage from Avid Technology, Inc. (NASDAQ: AVID).
"We welcome Softimage customers, strategic partners and employees to Autodesk," said Marc Petit, senior vice president, Autodesk Media & Entertainment. "This acquisition brings advanced 3D tools to our entertainment portfolio; tools that are known and loved by the 3D entertainment community. With production pipelines becoming entirely digital, and the convergence between games, film and television content, this acquisition is expected to complement and accelerate Autodesk's work in building real-time, interactive 3D authoring tools."
Petit added: "I'd like to reiterate that we plan to maintain and grow the Softimage product line, while doing the same with our existing 3D animation, modeling and rendering software products. Marc Stevens, former general manager of Softimage, has joined my management team. I look forward to working with him and the talented Softimage product and business teams to evolve the Softimage products' capabilities."
Softimage Product, Brand and Online Store
Autodesk intends to sell standalone versions of both the SOFTIMAGE|XSI and SOFTIMAGE|Face Robot 3D software products, and intends to continue developing these products. The SOFTIMAGE|Cat character animation system is a plug-in for Autodesk 3ds Max software and is expected to be integrated into the Autodesk 3ds Max product line. The SOFTIMAGE|Crosswalk interoperability solution is intended to be integrated with Autodesk's own interoperability technology.
Autodesk plans to continue to use the Softimage trademark, and the Softimage brand will become part of the Autodesk brand identity. While there are no immediate changes to the names of Softimage products, Autodesk intends to make changes to product branding with the next software releases.
The Softimage online store is temporarily offline, in order for Autodesk to integrate it with Autodesk's online store. Within a few weeks, Autodesk expects to make Softimage products available online for customers based in the United States. Over time, Autodesk intends to add Softimage products to its e-stores for all regions where other Autodesk products are sold online.
For further information please visit www.autodesk.com/softimage.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding product offerings, integration plans and the performance of Autodesk's business. Factors that could cause actual results to differ materially include the following: difficulties encountered in integrating Softimage's business; whether certain market segments grow as anticipated; the competitive environment in the software industry and competitive responses to the acquisition; and whether the companies can successfully develop new products or modify existing products and the degree to which these gain market acceptance.
Further information on potential factors that could affect the financial results of Autodesk are included in the company's annual report on Form 10-K for the year ended January 31, 2008, and Form 10-Q for the quarter ended July 31, 2008, which are on file with the Securities and Exchange Commission.
Softimage (previously a part of Avid Technology, Inc.) develops leading-edge 3D technology used in customer-centric solutions that enable professionals in the games, film and television industry to realize their creative vision. Award-winning feature films, television productions and top-selling video games are made using Softimage software. Its flagship product, SOFTIMAGE|XSI, is an extensible 3D animation software solution built on the most modern architecture in the industry and is used by leading media and entertainment companies such as Digital Domain, Ubisoft, SEGA Corporation, CAPCOM, Animal Logic, and The Mill. Other solutions from Softimage include: SOFTIMAGE|FACE ROBOT, lifelike facial animation software; and SOFTIMAGE|CAT, a complete character animation plug-in. For additional information about Softimage, visit www.softimage.com and for additional information about the acquisition by Autodesk, visit www.autodesk.com/softimage.
Autodesk, Inc. is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art digital prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit www.autodesk.com.
Autodesk, AutoCAD, Cat, Crosswalk, Face Robot, Softimage, XSI and 3ds Max are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
(C) 2008 Autodesk, Inc. All rights reserved.
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