Autodesk To Acquire Socialcam

Socialcam will be sold to Autodesk Inc, a world leader in 3D design, engineering and entertainment software, for a purchase price of approximately $60 Million.
The popular mobile social video capture, editing and sharing app launched in 2011, is expected to close the transaction in Autodesk’s third quarter of fiscal 2013 (which ends on October 31, 2012) and is subject to customary closing conditions.
Samir Hanna, vice president of Autodesk Consumer Group said "Mobile computing, the cloud and social media are improving and changing the way people design, engineer and create projects"
We are excited to have Socialcam join our growing portfolio of applications, services and communities for digital art, personal design and fabrication, home design and entertainment."
Founder and CEO of Socialcam, Michael Seibel said "Socialcam shares Autodesk’s mission of helping everybody imagine, design and create a better world."
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."
(HMc)