Autodesk (ADSK) to Acquire Socialcam in $60M Deal; Sees No Impact on non-GAAP EPS

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Autodesk Inc., (Nasdaq: ADSK) has signed a definitive agreement to acquire Socialcam for a purchase price of approximately $60 Million. Socialcam is a popular mobile social video capture, editing and sharing app and service that was launched in 2011. This transaction is expected to close in Autodesk's third quarter of fiscal 2013 (which ends on October 31, 2012) and is subject to customary closing conditions.

For full year fiscal 2013, this transaction is expected to decrease targeted GAAP earnings per diluted share by approximately $0.06 (primarily in the third quarter). Excluding $0.05 of stock-based compensation and $0.01 of amortization of acquisition related intangibles, both net of tax, this transaction is expected to have no impact on targeted non-GAAP earnings per diluted share for the full year fiscal 2013.

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