Autodesk buys Socialcam in $60m deal

Jul 17, 2012
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Autodesk buys Socialcam in $60m deal

3D design software pioneer Autodesk announced today that it has agreed to buy mobile video start-up Socialcam for around $60 million. The deal will likely close sometime within the next 30 days, and afterward, it sounds like Socialcam will still retain a large amount of its independence. That doesn't mean that Autodesk isn't going to focus on beefing up Socialcam's service, however, with the company saying that it intends to develop "a more comprehensive set of tools" for Socialcam's tens of millions of users.

In addition to developing 3D design software, Autodesk is known for its engineering, architectural, and entertainment software as well. Lately we've been seeing Autodesk focus less on traditional desktop-based programs and more on web-based ones, so this acquisition of Socialcam - which allows users to create, edit, and share video clips - will likely go a long way in making Autodesk a more familiar name in the realms of mobile apps and social media.

"Mobile computing, the cloud and social media are improving and changing the way people design, engineer and create projects," said Autodesk Consumer Group vice president Samir Hanna in a statement today. "Video is an ideal medium for professionals and consumers alike to communicate and share their design ideas."

Socialcam's mobile app, which is available for both iPhone and Android, has been downloaded 16 million times since the company got its start 18 months ago. With only four full-time employees, Socialcam is still in many ways a start-up, but with the promise of funding from Autodesk now that this purchase has been announced, don't be surprised to see Socialcam's popularity continue to rise - perhaps at an even faster rate than it has enjoyed in the past year and a half.

[via Bloomberg]


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