Acquisition to Accelerate Autodesk’s Games Strategy; Complements Digital Entertainment and Visual Communications Offering; Lets Artists Choose their Passion
SAN RAFAEL, Calif., Oct. 23, 2008 — Autodesk, Inc. (NASDAQ: ADSK) and Avid Technology, Inc. (NASDAQ: AVID), announced that they have signed a definitive agreement for Autodesk to acquire substantially all of the assets of Avid’s Softimage business unit for approximately $35 million.
Softimage was founded in 1986 by Daniel Langlois and is headquartered in Montreal, Canada. Softimage develops 3D technology for the film, television and games markets. Its flagship product is SOFTIMAGE|XSI, an extensible 3D animation software solution used by leading media and entertainment companies, including Digital Domain, Ubisoft, SEGA Corporation, CAPCOM, Animal Logic and The Mill. Autodesk Media & Entertainment provides animation, visual effects, editing/finishing and color grading solutions for the 3D market, including entertainment and design industries.
“Softimage has been developing state-of-the-art 3D technology for more than 20 years, and its products are recognized as best-of-breed in the entertainment industry,” said Marc Petit, senior vice president, Autodesk Media & Entertainment. “Upon the completion of this acquisition we will be adding Softimage technology and products to our portfolio, and welcoming one of the most talented teams in the industry to Autodesk Media & Entertainment. Both will help us accelerate the work of our Games Technology Group, as we build the next-generation of real-time, interactive 3D authoring tools for games, film and television.”
Gary Greenfield, CEO and chairman of Avid Technology, added: “We are excited about what this transaction means for customers of Softimage. 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.”
Softimage Product Integration
Upon completion of the acquisition, Autodesk intends to continue developing and selling Softimage’s core product line, while integrating certain Softimage technology into future versions of Autodesk solutions and products. Autodesk plans to acquire and continue developing the following Softimage products:
- SOFTIMAGE|XSI: Including XSI Essentials, XSI Advanced, XSI Academic, XSI Mod Tool and the XSI software development kit. XSI is production-proven 3D animation software for games, film and television. It offers a complete 3D modeling, animation, rendering and development environment for visual effects and custom tools.
- SOFTIMAGE|Face Robot: A complete software solution for easily rigging and animating 3D faces. Face Robot enables studios to create life-like facial animation at incredible speeds.
- SOFTIMAGE|Cat: This advanced character animation system is a plug-in for Autodesk 3ds Max software. It is intended to be integrated into the 3ds Max product line.
- SOFTIMAGE|Crosswalk: This interoperability solution is intended to be integrated with Autodesk’s own interoperability technology.
Petit commented: “As we have demonstrated since the acquisition of Alias in 2006, we’re committed to giving our customers choice when it comes to their 3D tools. We plan to maintain and grow the Softimage product line, and through Autodesk FBX provide better interoperability between Softimage products, 3ds Max and Autodesk Maya. FBX also provides interoperability between Softimage products and our specialized applications such as Autodesk Mudbox, Autodesk MotionBuilder, Autodesk ImageModeler and Autodesk Stitcher, as well as numerous third-party applications.”
Petit concluded: “At Autodesk, we care deeply about 3D technology; we know users invest a lot of time and energy into mastering their favorite 3D product. To all 3D artists out there, I want to tell you that we understand your passion for the creative tools you use daily, and that with Autodesk, you can choose your passion.”
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding product offerings and the performance of its business. Factors that could cause actual results to differ materially include the following: difficulties encountered in closing and 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 is a part of Avid Technology, Inc., and 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; SOFTIMAGE|CAT, a complete character animation plug-in; and SOFTIMAGE Alienbrain, a digital asset management solution for artists. www.softimage.com.
About Avid Technology
Avid is a worldwide leader in tools for film, video, audio, 3D animation, gaming and broadcast professionals – as well as for home audio and video enthusiasts. Avid professional and consumer brands include Avid, Digidesign, M-Audio, Pinnacle Systems, Sibelius, Softimage and Sundance Digital. The vast majority of primetime television shows, feature films, commercials and chart-topping music hits are made using one or more Avid products. Whether used by seasoned professionals or beginning students, Avid’s products and services enable customers to work more efficiently, productively and creatively. Avid received an Oscar statuette representing the 1998 Scientific and Technical Award for the concept, design, and engineering of the Avid Film Composer system for motion picture editing.
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.
Autodesk, AutoCAD, FBX, ImageModeler, Maya, MotionBuilder, Mudbox, Stitcher 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.
Safe Harbor Statement
The documents, information and references included on this page, including the video presentation, contain forward-looking statements that involve risks and uncertainties, including statements regarding our acquisition of Softimage, the impact of the acquisition on our product offerings and the performance of our business, and the impact of our combined product capabilities. Factors that could cause actual results to differ materially include the following: difficulties or delays encountered in closing and integrating Softimage’s businesses; whether certain market segments grow as anticipated; the inability to realize the anticipated benefits of acquisitions; the competitive environment in the software industry and competitive responses to the acquisition; and whether Autodesk can successfully develop new products or modify existing products and the degree to which these gain market acceptance.
We caution you that such statements reflect our best judgment based on factors currently known to us, and that actual events or results could differ materially. Please refer to the documents we file from time to time with the SEC, specifically our 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. These documents contain and identify important risks and other factors that may cause our actual results to differ from those contained in our forward-looking statements.
The information and forward-looking statements included on this page are dated as of October 23, 2008. If the material contained on this page is reviewed (or replayed in the case of the video presentation) after that date, the information presented on this page may not contain current or accurate information. Autodesk disclaims any obligation to update or revise any such information or forward-looking statements.