
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
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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
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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.
About Softimage
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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
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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.
About Autodesk
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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.