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Autodesk Buying Softimage From Avid

Autodesk has reached an agreement to by the Softimage business from Avid Technology, Autodesk announced. The deal is worth about $35 million and follows several months of self-analysis by Avid, in which it considered the best way to efficiently handle all the companies it has acquired in recent years. Avid also said it would reduce its workforce.

Softimage was founded in 1986 by Daniel Langlois and is headquartered in Montreal, Canada. The company develops 3-D technology for the film, television and games markets. Its flagship product is Softimage|XSI, an extensible 3D animation software solution.

"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 of Autodesk Media and 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 and 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."

Autodesk, based in San Rafael, Calif., specializes in 2D and 3D graphics.

Avid reported $217.1 million in revenue in the third quarter, down from $226.8 million in the third quarter of 2007. The company's net loss for the quarter was $66.4 million ($1.80 per share), compared to a loss of $5.9 million (14 cents per share) in Q3 2007.