Acquisition to Provide Industry Leading Color Expertise and Technology for
Long-Term Growth in Autodesk's Digital Film Business
SAN RAFAEL, Calif., April 18 /PRNewswire-FirstCall/ -- Autodesk, Inc.
(Nasdaq: ADSK) today announced that it has signed a definitive agreement to
acquire substantially all of the assets of Colorfront(TM) Ltd., the leading
developer of color correction technology for film studios and digital film
laboratories, for $15 million USD. This acquisition will bring comprehensive
new expertise in film laboratory processes, digital post-production, color
science, image processing and hardware platform optimization to Autodesk. The
transaction is currently expected to close in the next 45 days, and is
expected to be neutral to Autodesk's earnings in fiscal year 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050415/SFF034LOGO )
Colorfront, a privately held company based in Budapest, Hungary, worked
with Autodesk to co-develop the Discreet(R) Lustre(R) digital color grading
system. Introduced in April 2003, the Lustre system has been used on feature
films such as The Polar Express, The Phantom of the Opera, Pirates of the
Caribbean and Master and Commander: The Far Side of the World. Colorfront's
product portfolio also includes color correction plug-ins for Autodesk's
"Autodesk is committed to providing industry leading tools that empower
all content creators to better realize their ideas. The acquisition of
Colorfront underscores this commitment and is a key component of our film
strategy to provide a full suite of integrated end-to-end solutions for
everything from pre-visualization through to distribution," said Martin Vann,
vice president of Worldwide Sales, Marketing and Support for Autodesk's Media
and Entertainment Division. "Digital filmmaking is driving the biggest shift
ever in the filmmaking process. By more deeply integrating the industry
leading Lustre system technology into our product family, we will be able to
offer our customers better workflow and collaboration tools, ultimately
enabling a more profitable creative process."
Autodesk offers the industry's most comprehensive set of digital film
solutions, including its Academy Award(R)-winning* Discreet(R) Inferno(R) and
Discreet(R) Flame(R) systems, Discreet(R) Fire(R) and Discreet(R) Smoke(R)
conform and editing systems, Autodesk(R) 3ds Max(R) 3D animation software,
Autodesk(R) Combustion(R) paint and rotoscoping software, and Autodesk(R)
ToxikTM collaborative compositing software.
"The Colorfront team has a proven track record of innovation and
fast-paced development," added Marc Petit, vice president of Product
Development and Operations at Autodesk's Media and Entertainment Division.
"The integration of Colorfront's skills with our Discreet systems team will
benefit all our product lines."
The Lustre system began shipping less than two years ago, and has enjoyed
rapid adoption. As commercial off-the-shelf computer performance continues to
improve, new opportunities are appearing in television markets. Attracted by
new performance levels and the unique creative capabilities that software-
based color correction offers, a growing number of commercial post-production
facilities are also adopting the Lustre system.
Mark Jaszberenyi, CEO of Colorfront, said, "Colorfront is proud and
excited to become a part of Autodesk. It's a logical and welcome evolution of
our relationship, giving us the joint ability to drive faster innovation and
productization of R&D initiatives. Together, we will be able to ensure
continued long-term leadership in the digital intermediate and color grading
Mark Jaszberenyi, a film industry veteran and color science expert, will
join Autodesk Media and Entertainment Division's R&D team in Montreal, Canada.
Colorfront co-founder Aron Jaszberenyi remains onboard in Budapest to manage
the integration. Colorfront employees will continue their R&D activities in
Budapest, as part of Autodesk Hungary Kft.
Autodesk, Inc. is wholly focused on ensuring that great ideas are turned
into reality. With six million users, Autodesk is the world's leading software
and services company for the building, manufacturing, infrastructure, digital
media, and wireless data services fields. Autodesk's solutions help customers
create, manage, and share their data and digital assets more effectively. As
a result, customers turn ideas into competitive advantage by becoming more
productive, streamlining project efficiency, and maximizing profits.
Founded in 1982, Autodesk is headquartered in San Rafael, California. For
additional information about Autodesk, please visit www.autodesk.com.
* In 1998, Gary Tregaskis, Dominique Boisvert, Philippe Panzini and Andre
Leblanc were awarded the Scientific and Engineering Award from the
Academy of Motion Picture Arts and Sciences for the design, development
and implementation of Autodesk's Discreet Inferno(R) and Discreet
NOTE: Autodesk, Discreet, Lustre, Inferno, Flame, Fire, Smoke, 3ds max,
Combustion and Toxik are either registered trademarks or trademarks of
Autodesk, Inc., in the USA and/or other countries. All other brand names,
product names, or trademarks belong to their respective holders.
Contacts: Roohi Saeed, 514-954-7296; Nicole Pack, 415-507-6282
Emails: email@example.com; firstname.lastname@example.org
SOURCE Autodesk, Inc.
CONTACT: Roohi Saeed, +1-514-954-7296, or email@example.com; or
Nicole Pack, +1-415-507-6282, or firstname.lastname@example.org, both of Autodesk,
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Web site: http://www.autodesk.com