On Tuesday, design software maker Autodesk confirmed that it has completed its acquisition of privately held German software maker PI-VR, a maker of "visualization technology" software used primarily in the automotive industry.
According to Autodesk, PI-VR's "VRED technology helps solve a broad set of problems in the process of car design and engineering, and reduces the need for physical prototypes through the use of real time, highly realistic visualization."
In a statement, Autodesk said it will continue selling, supporting, and enhancing PI-VR software to its customer base, while at the same time integrating its own software technologies into the PI-VR platform.
Financial details of the transaction were not disclosed, although Autodesk said the purchase will not affect its guidance issued on Nov. 15, when management predicted it would earn fiscal Q4 2013 profits of between $0.18 and $0.26 on $570 million to $600 million in revenues.
The article Autodesk Buys Visualization Tech Firm PI-VR originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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