SAN
FRANCISCO, Feb. 5, 2024 /PRNewswire/ — Autodesk,
Inc. (NASDAQ: ADSK) announced it has entered into an agreement
to acquire the PIX business of X2X. PIX is a production management
solution for secure review and content collaboration between
creatives and executives in the media and entertainment industry
throughout the production process.
Autodesk's 2023 State of Design and Make report found that media
and entertainment companies cite operational efficiency and value
creation as key business drivers. Once the transaction closes,
the PIX acquisition would strongly deliver on both of these
customer-driven outcomes by fostering broader collaboration and
communication, as well as driving greater efficiencies in the
production process to save customers time and money. The
acquisition would also support Autodesk's vision to fully realize
the potential of connecting pre- and post-production data for our
customers through Flow, the Media & Entertainment industry
cloud on Autodesk's Design and Make platform.
This potential transaction is subject to regulatory approval.
Terms of the deal will not be disclosed.
Autodesk's proposed acquisition of PIX has not been completed;
the completion of the proposed acquisition of PIX is uncertain and
is subject to regulatory approval and the satisfaction of various
other closing conditions. Until close, Autodesk and PIX will remain
separate companies. Subject to the satisfaction of the foregoing
closing conditions, the proposed acquisition of PIX is expected to
close early in fiscal year 2025.
The foregoing descriptions of the contemplated effects of the
proposed acquisition are subject to the acquisition's completion
and Autodesk's ability to successfully integrate PIX in all
respects.
This communication includes forward-looking statements within
the meaning of the federal securities laws regarding future events
and development efforts for our products and services, including
without limitation statements regarding the anticipated benefits of
the acquisition and the anticipated timing of the acquisition.
These statements reflect our current expectations based on what we
know today. Our plans are not intended to be a promise or guarantee
of future events or the delivery of products, services, or
features, and purchasing decisions should not be made based upon
these statements. Factors that could cause actual results to differ
materially from such statements include the following: the failure
to realize the anticipated benefits of the acquisition, including
Autodesk's inability to successfully integrate the business of PIX;
costs related to the acquisition; the competitive environment in
the media and entertainment industry and competitive responses to
the acquisition; Autodesk and PIX's success developing new
products or modifying existing products and the degree to which
these gain market acceptance; and the ability to satisfy the
conditions to the completion of the acquisition on the anticipated
schedule, or at all. We do not assume any responsibility to update
this communication to reflect events that occur or circumstances
that exist after the publish date of this communication.
About Autodesk:
The world's designers, engineers,
builders, and creators trust Autodesk to help them design and make
anything. From the buildings we live and work in, to the cars we
drive and the bridges we drive over. From the products we use and
rely on, to the movies and games that inspire us. Autodesk's Design
and Make Platform unlocks the power of data to accelerate insights
and automate processes, empowering our customers with the
technology to create the world around us and deliver better
outcomes for their business and the planet. For more information,
visit autodesk.com or follow @autodesk.
#MakeAnything
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SOURCE Autodesk, Inc.