Autodesk (ADSK) to Acquire Shotgun Software; Sees No Impact on Outlook

Autodesk (NASDAQ: ADSK) has signed a definitive agreement to acquire Shotgun Software, a developer of scalable, cloud-based production tracking, review, and asset management software for the film, television and games industries. Shotgun’s tools for production management are used by some of the world’s leading production studios, and are tightly integrated with many of the most widely used tools in the industry including Autodesk 3ds Max and Autodesk Maya software. Terms of the acquisition were not disclosed.

“Shotgun and Autodesk share a vision of an industry-wide, cloud-based production management system," said Don Parker, Shotgun co-founder and chief executive officer. “Autodesk’s broad global network and development resources will speed up the pace of innovation and development of our global platform. Together, we will extend our tools deeper into the production process, and develop new solutions that best support the studios of the future.”

Since the launch of the Shotgun solution in 2006, it has become widely-adopted across the industry, providing business tools for managers and visual collaboration tools for artists and supervisors, who are often working globally with distributed teams. More than 500 customers including a number of leading studios are using Shotgun’s customizable system and contribute to the ongoing development of its growing ecosystem of applications. The existing Shotgun team will continue to support current and new customers and lead future product development.

“The acquisition of Shotgun will accelerate Autodesk’s efforts to deliver solutions that help our creative customers solve the critical problem of operating more efficiently by collaborating globally to deliver increasingly complex productions on time and budget,” said Chris Bradshaw, senior vice president, Autodesk Media & Entertainment. “Shotgun brings deep expertise and industry-leading technology in cloud products and production management, so we welcome the team, customers and community to Autodesk.”

Business Outlook

This transaction is expected to close during Autodesk’s fiscal quarter ending July 31, 2014 and have no impact on Autodesk’s guidance issued on May 15, 2014.

You May Also Be Interested In

• Glacier Bancorp (GBCI) Approved to Acquire Six Montana Branches From HTLF Bank (HTLF)
• Wells Fargo Reiterates Overweight Rating on Tapestry Inc. (TPR)
• Arthur J. Gallagher (AJG) Acquires Fontenelle & Goodreau Insurance