Autodesk Will Acquire Socialcam

July 24, 2012, 02:09 PM

Is there gold in social video apps? Ever since Facebook paid USD1 billion for Instagram in April, people have been looking to video apps for the next breakout hit. Autodesk has put its bet on Socialcam, signing an agreement to acquire the iOS and Android app for approximately USD60 million. The deal will close in Autodesk's third quarter, so it will take place by October 31, 2012.

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