Autodesk Inc. (NASDAQ: ADSK), has completed the acquisition of PI-VR, a privately held German software company that specializes in sophisticated real time visualization technology used primarily in the automotive industry. The cutting-edge visualization solutions developed by PI-VR will strengthen and enhance Autodesk’s expertise in and offerings for automotive visualization. Terms of the transaction were not disclosed.
“This acquisition brings to Autodesk a highly-skilled team with deep expertise in high-end visualization that will help expand our offerings for the automotive industry,” said Buzz Kross, senior vice president, Design, Lifecycle and Simulation at Autodesk. “The VRED technology helps solve a broad set of problems in the process of car design and engineering, and reduces the need for physical prototypes through the use of real time, highly realistic visualization. We look forward to making this technology broadly available to our automotive industry customers, and welcome PI-VR customers, employees and partners to Autodesk.”
Autodesk intends to integrate Autodesk technologies into the PI-VR platform, while continuing to sell, support and enhance the PI-VR product line. The VRED products will join Autodesk’s existing solutions for the automotive industry including Autodesk Showcase, Autodesk Alias, Autodesk Maya, Autodesk 3ds Max and the Autodesk Design and Creation Suites.
Business OutlookThis transaction is expected to have no impact on guidance issued on November 15, 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, and the impact of the acquisition on end-user functionality and workflow integration. Factors that could cause actual results to differ materially include the following: difficulties encountered in integrating the PI-VR 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 modify 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts