Autodesk buys Horizontal Systems for cloud program
Design software maker Autodesk Inc. said it will buy software company Horizontal Systems to boost its presence in cloud-based computing and modeling software.
Autodesk Inc. said the deal should close by Jan. 31, 2012, but the company did not disclose terms of the transaction.
New York-based Horizontal Systems makes cloud-based design programs called Building Information Modeling. The products are sold to architects, engineers and others in the construction industry.
Autodesk said it will fold Horizontal Systems' technology into its Autodesk 360 program. Cloud-based computing is done on remote servers rather than on desktop computers. Autodesk said its new cloud-based design program will let customers more easily access and coordinate projects.
Shares of Autodesk Inc. jumped $2.58, or 8.2 percent, to finish trading at $34.07.