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
SOURCE Autodesk, Inc.
