Autodesk Inc., (NASDAQ: ADSK) has completed the acquisition of Qontext, enterprise social collaboration software, from India-based Pramati Technologies. The acquisition of the Qontext technology and development team will accelerate Autodesk’s ongoing move to the cloud and expansion of social capabilities in the Autodesk 360 cloud-based service. Terms of the transaction were not disclosed.
“Autodesk’s acquisition of the Qontext technology is a testament to the Pramati strategy,” said Vijay Pullur, Pramati president. “This transaction is a significant milestone in our ongoing efforts to incubate and build companies that address the rapidly changing needs of business through highly innovative technologies.”
Autodesk intends to use the Qontext technology to add new social capabilities to Autodesk 360, a cloud-based platform that offers users the ability to store, search, and view critical design data improving the way they design, visualize, simulate and share work with others at anytime and from anywhere.
“Mobile, cloud and social computing are dramatically changing the way engineers, designers and architects work. The addition of the Qontext technology to the Autodesk portfolio will lead to new technology innovations that help our customers embrace these disruptive technologies and leverage them for competitive advantage,” said Amar Hanspal, Autodesk senior vice president of information modeling and platform products. “It was great to work with the team at Pramati who have demonstrated a great capability in incubating disruptive businesses."Business Outlook This transaction is expected to have no impact on guidance issued on August 23, 2012. 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 product and services offerings, the impact of the acquired technology on Autodesk's products and services capabilities, the impact of the acquisition on end-user functionality and workflow integration, and the acceleration of Autodesk’s move to the cloud. Factors that could cause actual results to differ materially include the following: difficulties encountered in integrating the Qontext Technology; costs related to the 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; 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.