Design and Entertainment Software Leader to Accelerate Adoption of
Mobile, Cloud & Social Technologies Through Acquisition of Rapidly
Growing Social Video Service
SAN FRANCISCO--(BUSINESS WIRE)--Jul. 17, 2012--
Autodesk
Inc., (NASDAQ: ADSK) a world leader in 3D design, engineering and
entertainment software, has signed a definitive agreement to acquire
Socialcam for a purchase price of approximately $60 Million. Socialcam
is a popular mobile social video capture, editing and sharing app and
service that was launched in 2011. This transaction is expected to close
in Autodesk’s third quarter of fiscal 2013 (which ends on October 31,
2012) and is subject to customary closing conditions.
“Mobile computing, the cloud and social media are improving and changing
the way people design, engineer and create projects,” said Samir Hanna,
vice president, Autodesk Consumer Group. “Video is an ideal medium for
professionals and consumers alike to communicate and share their design
ideas. We are excited to have Socialcam join our growing portfolio of
applications, services and communities for digital art, personal design
and fabrication, home design and entertainment.”
Socialcam is a smartphone application and web-based service that makes
it easy to capture, edit and share videos. The Socialcam app has been
one of the most popular mobile video apps in the iOS App Store and
Android marketplace with over 16 million downloads since it was first
launched in 2011. Autodesk will prioritize support for the existing
Socialcam community, while investing in scaling the platform and
developing a more comprehensive set of tools for Socialcam users.
Autodesk also plans to use the Socialcam platform to help make its
Academy Award-winning technology for professional film and video
creators more accessible to a broader audience.
“Socialcam shares Autodesk’s mission of helping everybody imagine,
design and create a better world,” said Michael Seibel, Founder and CEO,
Socialcam. “Autodesk has a proven track record of acquiring and scaling
fast-growing, early stage consumer businesses while staying true to
their core audience and vision. With products like Pixlr, SketchBook and
123D, Autodesk is empowering creativity in millions around the world by
making their award-winning technology accessible to everybody. We’re
excited to join them and introduce this global community to simple video
creation, editing and sharing.”
Business Outlook
For full year fiscal 2013, this transaction is expected to decrease
targeted GAAP earnings per diluted share by approximately $0.06
(primarily in the third quarter). Excluding $0.05 of stock-based
compensation and $0.01 of amortization of acquisition related
intangibles, both net of tax, this transaction is expected to have no
impact on targeted non-GAAP earnings per diluted share for the full year
fiscal 2013.
About Autodesk
Autodesk, Inc., is a leader in professional and personal 3D
design, engineering and entertainment software. Autodesk tools help
unlock the creativity in everyone, from children and hobbyists to design
and engineering professionals. Customers across the manufacturing,
architecture, building, construction, digital art and entertainment
industries, including the last 17 Academy Award winners for Best Visual
Effects, use Autodesk software, mobile apps, cloud services and
communities to design, visualize, simulate and communicate their
ideas. For more information follow @autodesk
or visit autodesk.com.
Safe Harbor Statement
This press release contains forward-looking statements that involve
risks and uncertainties, including statements regarding: the impact of
the acquisition on Autodesk's financial results, business performance
and product and services offerings; Autodesk's commitments to
Socialcam’s community; the impact of the combined product capabilities
and how Autodesk's products and services will evolve and change and the
integration of Socialcam’s products into Autodesk products. Factors that
could cause actual results to differ materially include the following:
Autodesk’s ability to timely close the acquisition of Socialcam and
integrate Socialcam technology and employees; costs related to the
proposed acquisition; whether certain market segments grow as
anticipated; the competitive environment in the software industry and
competitive responses to the acquisition; our success developing new
products or modifying existing products and the degree to which these
gain market acceptance; general market and business conditions; general
market, political, economic and business conditions; failure to maintain
our revenue growth and profitability; our performance in particular
geographies, including emerging economies; the timing and degree of
expected investments in growth opportunities; pricing pressure; failure
to achieve continued cost reductions and productivity increases; changes
in the timing of product releases and retirements; failure of key new
applications to achieve anticipated levels of customer acceptance;
failure to achieve continued success in technology advancements;
interruptions or terminations in the business of our consultants or
third party developers; the expense and impact of legal or regulatory
proceedings; and unanticipated impact of accounting for acquisitions.
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, 2012, and Form 10-Q for the quarter
ended April 30, 2012, which are on file with the Securities and Exchange
Commission. Autodesk does not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were made.
Autodesk, AutoCAD , SketchBook, 123D and Pixlr are registered
trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries
and/or affiliates in the USA and/or other countries. Academy Award is a
registered trademark of the Academy of Motion Picture Arts and Sciences.
All other brand names, product names or trademarks belong to their
respective holders. Autodesk reserves the right to alter product and
services offerings, and specifications and pricing at any time without
notice, and is not responsible for typographical or graphical errors
that may appear in this document.
© 2012 Autodesk, Inc. All rights reserved.
Source: Autodesk Inc.
Autodesk, Inc.
Greg Eden, +1 415-547-2135
greg.eden@autodesk.com