Adding to a busy day of mobile news marked by new partnerships and mergers, Autodesk – a veritable force in 3D design, engineering and entertainment software – confirmed Tuesday that it will formally acquire Socialcam.
According to financial terms made public in the announcement, Socialcam is coming with a $60 Million price tag.
“Mobile computing, the cloud and social media are improving and changing the way people design, engineer and create projects,” said Samir Hanna, vice president of Autodesk Consumer Group. “Video is an ideal medium for professionals and consumers alike to communicate and share their design ideas.”
Socialcam, if you’re unfamiliar, is a mobile social video capture, editing and sharing app and service that launched just last year to great consumer interest.
The acquisition is expected to close before the end of October.
“Socialcam shares Autodesk’s mission of helping everybody imagine, design and create a better world,” added Michael Seibel, Founder and CEO of Socialcam. “Autodesk has a proven track record of acquiring and scaling fast-growing, early stage consumer businesses while staying true to their core audience and vision. With products like Pixlr, SketchBook and 123D, Autodesk is empowering creativity in millions around the world by making their award-winning technology accessible to everybody. We’re excited to join them and introduce this global community to simple video creation, editing and sharing.”
