Autodesk Acquires PI-VR
Autodesk Acquires PI-VR
Transaction Expands Technology Portfolio for Automotive Visualization
SAN RAFAEL, Calif.--(BUSINESS WIRE)-- Autodesk Inc. (NAS: 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 Outlook
This 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.
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 October 31, 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.
About Autodesk
Autodesk, Inc. is a leader in 3D design, engineering and entertainment software. Customers across the manufacturing, architecture, building, construction, and media and entertainment industries ― including the last 17 Academy Award winners for Best Visual Effects — use Autodesk software to design, visualize and simulate their ideas. Since its introduction of AutoCAD software in 1982, Autodesk continues to develop the broadest portfolio of state-of-the-art software for global markets. For additional information about Autodesk, visit www.autodesk.com.
Autodesk, Alias, 3ds Max, Maya and Showcase are registered 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.
© 2013 Autodesk, Inc. All rights reserved.
Autodesk, Inc.
Stacy Doyle, 503-707-3861 (Media)
stacy.doyle@autodesk.com
David Gennarelli, 415-507-6033 (Investors)
david.gennarelli@autodesk.com
KEYWORDS: United States Europe North America California Germany
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