San Rafael, Calif. – Autodesk, the San Rafael-based developer of 3D design, engineering and entertainment software, said on Tuesday it will pay approximately $60 million to acquire San Francisco-based Socialcam, the year-old developer of video capture, editing and sharing apps.
The deal is expected to close by the end of October.
“Video is an ideal medium for professionals and consumers alike to communicate and share their design ideas,” said Samir Hanna, vice president of the Autodesk Consumer Group. “We are excited to have Socialcam join our growing portfolio of applications, services and communities.”
Socialcam is a smartphone app and web-based service that allows users to capture, edit and share videos. The app has been downloaded more than 16 million times by Apple and Android users since its debut in 2011.
This article was also published in Bay Area Tech Wire.
Socialcam – http://socialcam.com
Autodesk – http://www.autodesk.com
Autodesk – press release